Institutional Property Advisors Brokers Houston Multifamily Asset Sale
September 29, 2023
HOUSTON, Sept. 29, 2023 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the sale of Icon at Yorktown, a 115-unit apartment property in Houston, Texas.
“Houston was the only major Texas market to record a drop in multifamily vacancy between the first and second quarters this year,” said Greg Austin, IPA senior director, “and it is expected that the city will lead the state in rent growth.” IPA’s Travis Austin, Greg Austin , Jackson Hart, Drew Kile, and Will Balthrope represented the seller and procured the buyer.
Located in the master-planned Copperfield community of Houston, the property is just off State Highway 6, between Interstate 10 and U.S. Highway 290. The Energy Corridor and other nearby major employment centers are a short commute away. Copperfield Village shopping center and Bear Creek Pioneers Park are close by.
Completed in 2021 on three acres, Icon at Yorktown’s community amenities include carports, car charging stations, a swimming pool, fitness center, and clubhouse. Apartments have stainless-steel appliances, walk-in closets and bike storage.
“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.
“Houston was the only major Texas market to record a drop in multifamily vacancy between the first and second quarters this year,” said Greg Austin, IPA senior director, “and it is expected that the city will lead the state in rent growth.” IPA’s Travis Austin, Greg Austin , Jackson Hart, Drew Kile, and Will Balthrope represented the seller and procured the buyer.
Located in the master-planned Copperfield community of Houston, the property is just off State Highway 6, between Interstate 10 and U.S. Highway 290. The Energy Corridor and other nearby major employment centers are a short commute away. Copperfield Village shopping center and Bear Creek Pioneers Park are close by.
Completed in 2021 on three acres, Icon at Yorktown’s community amenities include carports, car charging stations, a swimming pool, fitness center, and clubhouse. Apartments have stainless-steel appliances, walk-in closets and bike storage.
“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 www.institutionalpropertyadvisors.com.