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Institutional Property Advisors (IPA), a division of Marcus & Millichap, closed the sale of two multifamily properties totaling 710 units in suburban North Dallas. The properties are Jefferson Eastshore, a 286-unit Irving asset completed last year, and Jefferson Boardwalk, a 424-unit property located in Farmers Branch and built in 2018.
An IPA team of Drew Kile, Will Balthrope, Joey Tumminello and Grant Raymond represented the seller, JPI, and identified the buyer, an affiliate of Lone Star Funds. Terms weren’t disclosed.