Institutional Property Advisors Closes Five Multifamily Property Sales in the Permian Basin
December 30, 2025
MIDLAND, Texas, Dec. 30, 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 five multifamily properties in Midland, Texas. Four are in the 277-unit Midland Value-Add Portfolio: Brighton Court, Delmar Villas, Enclave, and Signature Place, and the fifth is 288-unit The Everett at Ally Village.
“These assets are located in the highest rent growth MSA in the United States, where during the past year, average rents increased by over 10%,” said Will Balthrope, IPA executive managing director. “Midland’s multifamily market continues to exhibit strong investor confidence, supported by population growth, durable employment, and a steady influx of capital to the Permian Basin,” said Drew Garza, IPA senior managing director investments. Balthrope and Garza, in association with Tommy Lovell III and Richard Robson of Marcus & Millichap represented the seller and procured the buyer of the Midland Value-Add Portfolio. Balthrope and Garza brokered the sale of The Everett at Ally Village on behalf of the principals.
Major employers in Midland include Occidental Petroleum, Chevron, Fasken Oil & Ranch, and XTO Energy. Retail and entertainment are close to the Midland Value-Add Portfolio communities at Cornerstone Shopping Center, Academy Sports + Outdoors, and Midland Park Mall. The Midland Country Club, Hogan Park, and Reyes-Mashburn-Nelms Park are within proximity. The Everett at Ally Village is in Midland’s Corporate Plaza neighborhood near Loop 250 and Highway 191, which provide residents with convenient access to major employment centers, shopping, dining, and entertainment. The Cork & Pig Tavern, Cowboy Prime, and Big Sky Drive-in Theatre are close by.
Brighton Court is a 60-unit property built in 1983 on over seven acres. Delmar Villas was constructed in 1983 on five-plus acres. Enclave is a 68-unit community built in 1983. Completed in 1982, Signature Place is a 57-unit asset. The Everett at Ally Village was built in 2021.
“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.
“These assets are located in the highest rent growth MSA in the United States, where during the past year, average rents increased by over 10%,” said Will Balthrope, IPA executive managing director. “Midland’s multifamily market continues to exhibit strong investor confidence, supported by population growth, durable employment, and a steady influx of capital to the Permian Basin,” said Drew Garza, IPA senior managing director investments. Balthrope and Garza, in association with Tommy Lovell III and Richard Robson of Marcus & Millichap represented the seller and procured the buyer of the Midland Value-Add Portfolio. Balthrope and Garza brokered the sale of The Everett at Ally Village on behalf of the principals.
Major employers in Midland include Occidental Petroleum, Chevron, Fasken Oil & Ranch, and XTO Energy. Retail and entertainment are close to the Midland Value-Add Portfolio communities at Cornerstone Shopping Center, Academy Sports + Outdoors, and Midland Park Mall. The Midland Country Club, Hogan Park, and Reyes-Mashburn-Nelms Park are within proximity. The Everett at Ally Village is in Midland’s Corporate Plaza neighborhood near Loop 250 and Highway 191, which provide residents with convenient access to major employment centers, shopping, dining, and entertainment. The Cork & Pig Tavern, Cowboy Prime, and Big Sky Drive-in Theatre are close by.
Brighton Court is a 60-unit property built in 1983 on over seven acres. Delmar Villas was constructed in 1983 on five-plus acres. Enclave is a 68-unit community built in 1983. Completed in 1982, Signature Place is a 57-unit asset. The Everett at Ally Village was built in 2021.
“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.