Press Releases
Marcus & Millichap Closes Sale and Arranges Financing for Multifamily Asset in Arlington
May 08, 2024
ARLINGTON, Texas, May 8, 2024 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale and financing of Fielder’s Glen, a 220-unit multifamily property in Arlington, Texas.
Al Silva, senior managing director investments, and Ford Braly, senior vice president investments in Marcus & Millichap’s Fort Worth office had the exclusive listing to market the property on behalf of the seller, Western Wealth Capital. Brandon Brown with Marcus & Millichap Capital Corporation arranged acquisition financing.
“The seller had a tight timeframe to market the property and with their best interests in mind, we leveraged our relationships to quickly locate a strong active buyer that saw the value of Fielder’s Glen the same way we did and was willing to put strong terms on the table to win the deal,” said Braly. The buyer, Rise48 Equity, was also secured by Silva and Braly. “Offered free and clear of debt, Fielders Glen’s financial performance can be improved with strategic physical and operational strategies similar to several comparable properties in the immediate area,” said Silva. “The new owners plan to invest a significant amount of capital to improve the property and make it a more attractive option for area renters.”
Built in 1985 on 10 acres, the property is close to Veterans Park, Interstate 20, and The Parks Mall at Arlington. The University of Texas at Arlington and Six Flags Over Texas are nearby. Major employers in Arlington include Texas Energy Future Holdings LP, the University of Texas’ Department of Geology and Texas Health Arlington Memorial Hospital.
Among the community amenities at Fielder’s Glen are a swimming pool, barbecue and picnic area, laundry facilities, and a fitness center. The unit mix is studio, one- and two-bedroom apartments with private patios or balconies, ceiling fans and walk-in closets. Most units have washer and dryer connections.
Since the beginning of 2022, the Fort Worth-based Silva Braly Multifamily Team of Marcus & Millichap has completed the successful marketing and sale of over 35 apartment properties in the Dallas-Fort Worth area totaling more than 6,800 units and $830 million in transaction volume.
Al Silva, senior managing director investments, and Ford Braly, senior vice president investments in Marcus & Millichap’s Fort Worth office had the exclusive listing to market the property on behalf of the seller, Western Wealth Capital. Brandon Brown with Marcus & Millichap Capital Corporation arranged acquisition financing.
“The seller had a tight timeframe to market the property and with their best interests in mind, we leveraged our relationships to quickly locate a strong active buyer that saw the value of Fielder’s Glen the same way we did and was willing to put strong terms on the table to win the deal,” said Braly. The buyer, Rise48 Equity, was also secured by Silva and Braly. “Offered free and clear of debt, Fielders Glen’s financial performance can be improved with strategic physical and operational strategies similar to several comparable properties in the immediate area,” said Silva. “The new owners plan to invest a significant amount of capital to improve the property and make it a more attractive option for area renters.”
Built in 1985 on 10 acres, the property is close to Veterans Park, Interstate 20, and The Parks Mall at Arlington. The University of Texas at Arlington and Six Flags Over Texas are nearby. Major employers in Arlington include Texas Energy Future Holdings LP, the University of Texas’ Department of Geology and Texas Health Arlington Memorial Hospital.
Among the community amenities at Fielder’s Glen are a swimming pool, barbecue and picnic area, laundry facilities, and a fitness center. The unit mix is studio, one- and two-bedroom apartments with private patios or balconies, ceiling fans and walk-in closets. Most units have washer and dryer connections.
Since the beginning of 2022, the Fort Worth-based Silva Braly Multifamily Team of Marcus & Millichap has completed the successful marketing and sale of over 35 apartment properties in the Dallas-Fort Worth area totaling more than 6,800 units and $830 million in transaction volume.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.
