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Institutional Property Advisors Brokers Sale and Arranges Financing for Suburban Dallas Multifamily Asset

September 29, 2022

ROWLETT, Texas, Sept. 29, 2022 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the sale and financing of Rowlett Station, a 302-unit, transit-oriented multifamily property in Rowlett, Texas.

“Rowlett Station is one of only three market-rate, Class A assets in the submarket,” said Joey Tumminello, IPA senior managing director. “Strong demand for Class A multifamily assets with superior unit finishes continue to be a top priority for the market as the flight to quality continues.” Tumminello and IPA’s Drew Kile, Michael Ware, Taylor Hill, and Will Balthrope represented the seller, Zale Properties, and procured the buyer. Brian Eisendrath and Cameron Chalfant of IPA Capital Markets secured the financing. “We are excited to partner with our Texas-based IPA sales team on the opportunities they offer to the marketplace,” said Eisendrath. “Having sales and financing under one roof creates great efficiencies for clients and supports our mutual ability to provide customized solutions every step of the way.” Completed in 2021, the property’s location in Central Downtown Rowlett places residents close to major employment centers such as the Telecom Corridor, Park Central Business Park and the University of Texas at Dallas. Retail and entertainment are within walking distance in Downtown Rowlett and retail centers within a short drive include Lake Pointe Market, The Station, and Firewheel Town Center, a 67-acre open-air shopping center with 1 million square feet of commercial space.

“The property is located less than 20 minutes northeast of Dallas’s urban core in a submarket that last year saw 15.1% rent growth and average occupancy of 97.2%,” noted Kile.

Rowlett Station is a four-story, mid-rise asset with surface parking options that include carports and breezeway-access garages. Additional amenities include a sky lounge, fitness center and resort-style swimming pool. Apartments have washers and dryers, keyless door entry, and individual alarm systems. The average unit size is 828 square feet.

“IPA in Texas provides investors with a large inventory of high-quality multifamily investment opportunities in every market, offering local market research and sales expertise in Dallas-Fort Worth, Houston, Austin and San Antonio,” said Balthrope.


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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

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