Institutional Property Advisors Closes Mid-Cities Multifamily Asset Sale
June 27, 2025
HALTOM CITY, Texas, June 26, 2025 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI) dedicated to serving the company’s institutional clients, announced today the sale of Belmond, a 312-unit multifamily property in Haltom City, Texas.
“Previous ownership implemented a comprehensive unit enhancement program on 56% of the property and the upgraded units are well occupied,” said Joey Tumminello, IPA senior managing director. Tumminello and IPA’s Taylor Hill, Drew Kile, Michael Ware, and William Hubbard represented the seller, Knightvest Capital, and procured the buyer, TwinkleStar Asset LLC.
The property is within a short commute of Fort Worth’s central business district, the 27,000-acre AllianceTexas master-planned community, and Dallas Fort Worth International Airport. The Fossil Creek Tech Center, Mercantile Center and BNSF Railway’s global headquarters are nearby, and retail and entertainment are within proximity at Presidio Town Crossing, Alliance Town Center, and the Fort Worth Stockyards historic district.
Built in 2001 on 17 acres, Belmond is a three-story garden-style asset with controlled-access gates, a resort-style swimming pool, community grilling stations, covered parking, and detached garages. Upgraded units have built-in computer desks, oversized oval garden tubs, walk-in closets, and full-size washers and dryers. The average unit size is 980 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 director.
“Previous ownership implemented a comprehensive unit enhancement program on 56% of the property and the upgraded units are well occupied,” said Joey Tumminello, IPA senior managing director. Tumminello and IPA’s Taylor Hill, Drew Kile, Michael Ware, and William Hubbard represented the seller, Knightvest Capital, and procured the buyer, TwinkleStar Asset LLC.
The property is within a short commute of Fort Worth’s central business district, the 27,000-acre AllianceTexas master-planned community, and Dallas Fort Worth International Airport. The Fossil Creek Tech Center, Mercantile Center and BNSF Railway’s global headquarters are nearby, and retail and entertainment are within proximity at Presidio Town Crossing, Alliance Town Center, and the Fort Worth Stockyards historic district.
Built in 2001 on 17 acres, Belmond is a three-story garden-style asset with controlled-access gates, a resort-style swimming pool, community grilling stations, covered parking, and detached garages. Upgraded units have built-in computer desks, oversized oval garden tubs, walk-in closets, and full-size washers and dryers. The average unit size is 980 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 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.