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Marcus & Millichap completes dual Southwest multifamily asset sales
December 20, 2022
Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of The Hub and 6500 South, two multifamily assets located in Dallas and Arlington, Texas, respectively. The assets sold for a combined $82 million.
“Located in dynamic and desirable submarkets in Dallas and Arlington, these two assets garnered a great deal of attention during our sales process despite challenges in the capital markets,” said Al Silva, senior managing director investments in Marcus & Millichap’s Fort Worth office. “The Hub and 6500 South share many similar qualities that have enhanced their value over the past few years, including substantial capital improvements to create well-maintained properties with updated communal and in-unit amenities.” Silva and Marcus & Millichap’s Ford Braly represented the sellers and procured the buyers in both transactions. The sellers were Intercapital Group for 6500 South and Madera Residential for The Hub, and the buyers were two separate Dallas-Fort Worth-based private investment companies.
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“Located in dynamic and desirable submarkets in Dallas and Arlington, these two assets garnered a great deal of attention during our sales process despite challenges in the capital markets,” said Al Silva, senior managing director investments in Marcus & Millichap’s Fort Worth office. “The Hub and 6500 South share many similar qualities that have enhanced their value over the past few years, including substantial capital improvements to create well-maintained properties with updated communal and in-unit amenities.” Silva and Marcus & Millichap’s Ford Braly represented the sellers and procured the buyers in both transactions. The sellers were Intercapital Group for 6500 South and Madera Residential for The Hub, and the buyers were two separate Dallas-Fort Worth-based private investment companies.
