Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Twin Oaks, a 8-unit apartment property located in Irving, Texas.

Matt Aslan, senior associate, Nick Fluellen, senior managing director investments and Bard Hoover, senior vice president investments in Marcus & Millichap’s Dallas office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust. The first-time multifamily buyer was also secured and represented by Aslan, Fluellen and Hoover. The transaction closed with a bank loan that offered competitive lending terms.

“Although the property was well maintained with pride of ownership by the seller, minimal interior updates had been completed to date,” said Aslan. “Excellent opportunity exists for the new owner to grow the income potential and create substantial long-term value by implementing an interior unit enhancement program.”

About Marcus & Millichap (NYSE: MMI)

With nearly 2000 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 9,472 transactions in 2018 with a value of approximately $46.4 billion. Marcus & Millichap 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.