MANSFIELD, Texas, March 3, 2020 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the sale of The Julian at South Pointe, a newly constructed, 225-unit multifamily asset in Mansfield, Texas. The property was built on 9.74 acres in 2019.
“The Julian at South Pointe is located in a high-growth submarket near great schools, five-star dining experiences, high-end shopping options, and a wide variety of beautiful ponds, trails, and parks,” said Drew Kile, IPA senior managing director. IPA’s Kile, Will Balthrope, executive managing director, and Joey Tumminello, director, represented the seller, Carleton Companies and M.R. Development Corp., and procured the buyer, Short Real Estate.
“The limited supply of new units coming to Mansfield over the next 12 months puts the new owner in an advantageous position,” added Tumminello.
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About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.