Marcus & Millichap Arranges Texas Luxury Asset Sale
Marcus & Millichap has brokered the sale of Northshore Place Apartments, a 224-unit luxury community in Portland, Texas. Senior Vice President Kent Myers represented the seller and procured the buyer in the deal. Silverfin Land Development sold the Class A asset a year and a half after the property delivered, according to Yardi Matrix data.
Silverfin broke ground on Northshore Place in 2017 on a 13-acre site at 177 Northshore Blvd., financing the development with two construction loans totaling $24 million, Yardi Matrix shows. The community consists of 10 two- and three-story buildings with one- and two-bedroom apartments averaging 959 square feet. Amenities include a swimming pool, fitness center and clubhouse with a full kitchen.