Institutional Property Advisors Brokers Apartment Building Sale in Forth Worth’s Magnolia Urban Village
Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the sale of Mag & May, a 240-unit apartment property in the Magnolia Urban Village community of Fort Worth, Texas.
"Mag & May’s high concentration of one-bedroom apartments aligns perfectly with the area’s demographics," said Drew Kile, IPA senior managing director. "The property’s amenities and features complement its location within the revitalized Magnolia Urban Village and are ideal for attracting a steady stream of renters for years to come." Kile, IPA’s Michael Ware, Taylor Hill, Joey Tumminello, and Will Balthrope represented the seller, Hudgins Companies, and procured the buyer, an affiliate of Abacus Capital Group. "The asset is located within the Southside Medical District, which has the highest density of medical jobs in the Dallas-Fort Worth region and, with 40,000 positions, is Tarrant County’s second-largest employment center," added Ware.
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