Institutional Property Advisors Closes Fort Worth Apartment Property Sale
March 11, 2025
FORT WORTH, Texas, March 11, 2025 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the sale of Cortland Riverside, a 374-unit multifamily property in Fort Worth, Texas.
“Built in 2020, the property is a fully stabilized asset with golf course views and designer finishes that has recently averaged 95% occupancy,” said Drew Kile, IPA executive managing director. Kile and IPA’s Michael Ware, Taylor Hill, Joey Tumminello, and Shelby Clark arranged the sale on behalf of the principals. The property is located at the intersection of Interstate 35W and Loop 820, adjacent to the Golf Club at Fossil Creek, five miles from Fort Worth’s central business district and AllianceTexas. Mercantile Center and the Fossil Creek Business Park are within a mile of the community. Shopping and entertainment are nearby at Presidio Town Crossing and the Fort Worth Stockyards.
Cortland Riverside is a two- and three-story garden-style community with a three-tier resort-style pool and sundeck, 24/7 fitness center, and private garages. The townhome-style villas have energy-efficient stainless-steel appliances, and walk-in closets. The average unit size is 1,014 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.
“Built in 2020, the property is a fully stabilized asset with golf course views and designer finishes that has recently averaged 95% occupancy,” said Drew Kile, IPA executive managing director. Kile and IPA’s Michael Ware, Taylor Hill, Joey Tumminello, and Shelby Clark arranged the sale on behalf of the principals. The property is located at the intersection of Interstate 35W and Loop 820, adjacent to the Golf Club at Fossil Creek, five miles from Fort Worth’s central business district and AllianceTexas. Mercantile Center and the Fossil Creek Business Park are within a mile of the community. Shopping and entertainment are nearby at Presidio Town Crossing and the Fort Worth Stockyards.
Cortland Riverside is a two- and three-story garden-style community with a three-tier resort-style pool and sundeck, 24/7 fitness center, and private garages. The townhome-style villas have energy-efficient stainless-steel appliances, and walk-in closets. The average unit size is 1,014 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.