Institutional Property Advisors Negotiates Metroplex Multifamily Asset Sale
FORT WORTH, Texas, Dec. 1, 2021 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the sale of The Jameson at the Bluffs, a 387-unit multifamily asset in Fort Worth, Texas.
“Positioned within the Samuels Avenue historic neighborhood, The Jameson at the Bluffs is one of only five newly constructed assets in intown Fort Worth with surface parking,” said Drew Kile, IPA senior managing director. Kile and IPA’s Joey Tumminello, Will Balthrope, Taylor Hill, Michael Ware and Jeffrey Kindorf represented the seller, StoneHawk Capital Partners, and procured the buyer, Buchanan Street Partners. “The Jameson was one of the final new construction assets available for sale in the intown Fort Worth market, which drove a very competitive process,” added Tumminello. “This specific submarket will be supported by the retail growth and improving demographics of the surrounding neighborhood for years to come.”
The Jameson at the Bluffs’ location close to Downtown Fort Worth places residents within minutes of destinations such as Panther Island, the Fort Worth Stockyards, the River East District, and West 7th. Nearby employment centers include the Near Southside Medical District, the University of North Texas Health Science Center, Naval Air Station Fort Worth, Lockheed Martin Air Force Plant 4 and AllianceTexas. Retail and dining are close by at Sundance Square, LeftBank, and Montgomery Plaza.
Built in 2021 on nine acres The Jameson at the Bluffs has a two-story, standalone clubhouse, a rooftop lounge, arcade, and two on-site dog parks. Apartments have stainless-steel appliance packages, farmhouse kitchen sinks, side-by-side refrigerators and nine-foot tubs surrounded by shower tiles. The average unit size is 784 square feet.
“IPA’s Texas-based multifamily investment sales team handles sales for the entire state with one team that sources the most qualified buyers and obtains the best prices for sellers,” added Balthrope.
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