Institutional Property Advisors Closes Multifamily Asset Sale in Suburban Dallas-Fort Worth
June 09, 2025
GRAPEVINE, Texas, June 9, 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 The Carter, a 276-unit multifamily asset in Grapevine, Texas.
“A thriving city with small town charm, Grapevine has a low supply of multifamily housing and future development faces restrictive zoning,” said Drew Kile, IPA executive managing director. Kile and IPA’s Joey Tumminello, Taylor Hill, Michael Ware, and Shelby Clark represented the seller, Integrated Real Estate Group and procured the buyer, Rockport Equity.
The property is within walking distance of Grapevine Mills Mall, less than three miles from Downtown Grapevine and close to employment centers in Dallas-Fort Worth. Grapevine’s trail and park system is directly accessible from the property and retail and entertainment are nearby at Grapevine Mills Mall and Cowboys Golf Club.
Built in 2023, The Carter is a controlled-access, mid-rise asset with elevators in every building, a resort-style swimming pool with tanning deck and a rooftop terrace with indoor and outdoor dining. Apartments have custom cabinets, washer and dryer connections, and private terraces. The average unit size is 1,008 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.
“A thriving city with small town charm, Grapevine has a low supply of multifamily housing and future development faces restrictive zoning,” said Drew Kile, IPA executive managing director. Kile and IPA’s Joey Tumminello, Taylor Hill, Michael Ware, and Shelby Clark represented the seller, Integrated Real Estate Group and procured the buyer, Rockport Equity.
The property is within walking distance of Grapevine Mills Mall, less than three miles from Downtown Grapevine and close to employment centers in Dallas-Fort Worth. Grapevine’s trail and park system is directly accessible from the property and retail and entertainment are nearby at Grapevine Mills Mall and Cowboys Golf Club.
Built in 2023, The Carter is a controlled-access, mid-rise asset with elevators in every building, a resort-style swimming pool with tanning deck and a rooftop terrace with indoor and outdoor dining. Apartments have custom cabinets, washer and dryer connections, and private terraces. The average unit size is 1,008 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.
# # #
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.