Institutional Property Advisors Closes Core Dallas Apartment Asset Sale
DALLAS, June 14, 2021 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the sale of Alexan Henderson, a 321-unit apartment property in the Knox-Henderson neighborhood of Dallas, Texas.
“Alexan Henderson’s luxury apartments and townhomes mirror the eclectic and flourishing character of the Knox-Henderson area,” said Drew Kile, IPA senior managing director. “The property’s amenities and features align with the preferences of the younger demographic that frequents the community.” IPA’s Kile, Joey Tumminello, Will Balthrope, Taylor Hill, Michael Ware and Grant Raymond, represented the seller, Trammell Crow Residential, and procured the buyer, Nuveen Real Estate. “The low-density nature of the asset provides differentiation in the competitive Knox-Henderson neighborhood, an area of East Dallas that has established itself as a premier location,” added Tumminello.
Alexan Henderson is centrally located between Knox-Henderson and Lower Greenville, within proximity of some of Dallas’s best shopping, dining and entertainment. Company offices such as American Airlines, AT&T, Ernst & Young, KPMG and PricewaterhouseCoopers are nearby. Built in 2017, Alexan Henderson’s amenity package includes a resort-style pool, a rooftop lounge, co-working spaces, electrical vehicle charging stations and an outdoor dog-park with two pet spas.
“Alexan Henderson will serve as a benchmark for the next generation that will call Dallas their home as it provides exceptional resources and opportunities for its occupants,” added Balthrope. “IPA has a single multifamily team in Texas that specializes in finding unique investment opportunities for buyers and this was an important element in the successful closing of this transaction.”
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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