Institutional Property Advisors Closes Sale and Arranges Financing for Multifamily Asset in Suburban Dallas-Fort Worth
February 05, 2025
NORTHLAKE, Texas, Feb. 5, 2024 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the sale and financing of Livano Canyon Falls, a 300-unit apartment property within the Canyon Falls master-planned community in Northlake, Texas.
“Livano Canyon Falls is one of only three multifamily assets in Northlake, an affluent Dallas-Fort Worth suburb,” said Drew Kile, IPA executive managing director. “Demand in the submarket is strong, as shown by the property’s average of nearly 30 leases per month during the peak of its lease-up period.” Kile and IPA’s Michael Ware, Joey Tumminello, Taylor Hill, and Shelby Clark represented the seller, Northlake Residence LLC, and procured the buyer, an affiliate of Harbor Group International LLC. Brian Eisendrath, Cameron Chalfant, Harry Krieger, and Tyler Johnson of IPA Capital Markets arranged acquisition financing.
The property is five miles from the corporate and mixed-use development Circle T Ranch, home to the global headquarters of Charles Schwab, and Deloitte University. Fidelity Investments’ Southwest regional headquarters and the 27,000-acre master-planned AllianceTexas mixed-use development, which has 575 companies employing more than 66,000 people are nearby.
Livano Canyon Falls is a three-story, garden-style property with a resort-style swimming pool and sundeck, fishing ponds, a workplace with private offices and conference rooms, and a mailroom. All units have high ceilings, full-size washers and dryers and a private balcony or patio. The average unit size is 1,015 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 Will Balthrope, IPA executive managing director.
“Livano Canyon Falls is one of only three multifamily assets in Northlake, an affluent Dallas-Fort Worth suburb,” said Drew Kile, IPA executive managing director. “Demand in the submarket is strong, as shown by the property’s average of nearly 30 leases per month during the peak of its lease-up period.” Kile and IPA’s Michael Ware, Joey Tumminello, Taylor Hill, and Shelby Clark represented the seller, Northlake Residence LLC, and procured the buyer, an affiliate of Harbor Group International LLC. Brian Eisendrath, Cameron Chalfant, Harry Krieger, and Tyler Johnson of IPA Capital Markets arranged acquisition financing.
The property is five miles from the corporate and mixed-use development Circle T Ranch, home to the global headquarters of Charles Schwab, and Deloitte University. Fidelity Investments’ Southwest regional headquarters and the 27,000-acre master-planned AllianceTexas mixed-use development, which has 575 companies employing more than 66,000 people are nearby.
Livano Canyon Falls is a three-story, garden-style property with a resort-style swimming pool and sundeck, fishing ponds, a workplace with private offices and conference rooms, and a mailroom. All units have high ceilings, full-size washers and dryers and a private balcony or patio. The average unit size is 1,015 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 Will Balthrope, IPA executive managing director.
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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.