Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Oak Creek Apartments, a 109-unit apartment property located in Garland, Texas, according to Kyle Palmer, Regional Manager of the firm’s Fort Worth office.
John Barker a Senior Director, Alexander Skotarek an Associate, and Daniel Burton an Associate in Marcus & Millichap’s Fort Worth office, had the exclusive listing to market the property on behalf of the seller, a partnership. The buyer, a limited liability company, was secured by Mr. Barker and Joshua S. Ross, Associate Vice President Investments in Marcus & Millichap’s Encino office. The deal was marketed for only 10 days, 17 tours, and an all cash investor was selected. The entire process from the time the deal hit the market until the day of close was only 49 days.
Oak Creek Apartments is located at 2710 West Walnut Street in Garland, Texas. This property is a well-maintained, garden style apartment complex built in 1964 on 3.92 acres. It is situated between Highway I-635, US 75 and President George Bush Turnpike, providing convenient access to all parts of the Dallas/Fort Worth metroplex.
The community offers a mix of floor plans ranging from 568 to 1,000-square feet. The floorplans include 16 one-bedroom units, 73 two-bedroom units and 20 three-bedroom units. The property offers ample parking for residents, clothing care facilities and a great playground area for children.
About Marcus & Millichap (NYSE: MMI)
With over 1,600 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 8,700 transactions in 2015 with a value of approximately $37.8 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.
