Institutional Property Advisors Closes North Dallas Multifamily Asset Sale
February 10, 2026
DALLAS, Feb. 10, 2026 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI) dedicated to serving the company’s institutional clients, announced today the sale of IMT Prestonwood, a 438-unit multifamily property in Dallas, Texas.
“The property’s exceptional performance over the past year includes average occupancy of 96% with no concessions and steady rent growth,” said Joey Tumminello, IPA senior managing director investments. Tumminello, Drew Kile, Michael Ware, Taylor Hill, Shelby Vosburg, and Jack Windham of IPA represented the seller, IMT Capital, and procured the buyer.
IMT Prestonwood’s location off the Dallas North Tollway, places residents between Dallas’ central business district and employment hubs in Plano and Frisco. The Knoll Trail Dallas Area Rapid Transit station is within walking distance, and Addison Airport, Dallas Love Field Airport, and Dallas Fort Worth International Airport are a short drive from the property. Nearby employers include McKesson Corp., AT&T, Southwest Airlines, Fluor, Kimberly Clark, and Tenet Health.
Built in 2018, IMT Prestonwood is a four-story, gated community with controlled access parking and electric vehicle charging stations. Community amenities include two swimming pools with cabanas, a clubhouse, sports lounge, and outdoor entertainment spaces. Apartments have dual-pane windows, washers and dryers, and walk-in closets. The average unit size is 815 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.
“The property’s exceptional performance over the past year includes average occupancy of 96% with no concessions and steady rent growth,” said Joey Tumminello, IPA senior managing director investments. Tumminello, Drew Kile, Michael Ware, Taylor Hill, Shelby Vosburg, and Jack Windham of IPA represented the seller, IMT Capital, and procured the buyer.
IMT Prestonwood’s location off the Dallas North Tollway, places residents between Dallas’ central business district and employment hubs in Plano and Frisco. The Knoll Trail Dallas Area Rapid Transit station is within walking distance, and Addison Airport, Dallas Love Field Airport, and Dallas Fort Worth International Airport are a short drive from the property. Nearby employers include McKesson Corp., AT&T, Southwest Airlines, Fluor, Kimberly Clark, and Tenet Health.
Built in 2018, IMT Prestonwood is a four-story, gated community with controlled access parking and electric vehicle charging stations. Community amenities include two swimming pools with cabanas, a clubhouse, sports lounge, and outdoor entertainment spaces. Apartments have dual-pane windows, washers and dryers, and walk-in closets. The average unit size is 815 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.