DALLAS–In the first two months of this year, 12 multifamily transactions totaling 3,699 units were completed in Dallas, Houston, Halthom City and San Antonio. The cumulative sales price was $317 million.
These transactions were closed by Institutional Property Advisors/IPA, a division of Marcus & Millichap. IPA Texas executive director Will Balthrope and senior director Drew Kile worked the deal with assistance from team members Joey Tumminello in Dallas/Fort Worth, Jordan Featherston in Austin/San Antonio and Jennifer Campbell in Houston.
“The outlook for Texas multifamily investments this year is very positive, and the capital market remains robust for both sellers and buyers,” says Balthrope. “Debt and equity are readily available and long-term, risk-adjusted returns for multifamily assets in large markets such as Dallas/Fort Worth, Houston, Austin, San Antonio and smaller, secondary markets throughout the state are outstanding.”
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
