Institutional Property Advisors Closes Three-Property Multifamily Portfolio in Northeast Texas
March 23, 2026
GREENVILLE, Texas, March 23, 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 the Greenville Value-Add Portfolio, a three-property, 428-unit multifamily portfolio in Greenville, Texas. The properties are: The Ridge Apartments, Highland Terrace, and Stone Ridge Apartments.
“Located only minutes away from each other, we put this portfolio on the market for the original developer, who owned and self-managed these assets for nearly their entire lifespan,” said William Hubbard, IPA senior director investments. “This rare opportunity provides the buyer economies of scale as well as implement a first-generation value-add program” Hubbard and IPA’s Taylor Hill, Michael Ware, Drew Kile, Joey Tumminello, and Jack Windham represented the seller, Pardue Companies, and procured the buyer.
Greenville is just off Highway 380, 40 miles northeast of Dallas, within a 35-minute commute of McKinney and Allen. The properties are located within a one-mile radius of each other on Greenville’s most significant transportation corridors, Highway 380, and Wesley Street. Hunt Regional Hospital is next to the properties, and The Greenbelt, a 325-acre mixed-use development is close by.
The Ridge Apartments is a 112-unit property built in 1985. Highland Terrace, completed in 1978, has 172 units. Stone Ridge Apartments is a 144-unit asset constructed between 1968 and 1983. All the properties are two-story, garden-style communities with swimming pools and clothes-care facilities.
“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.
“Located only minutes away from each other, we put this portfolio on the market for the original developer, who owned and self-managed these assets for nearly their entire lifespan,” said William Hubbard, IPA senior director investments. “This rare opportunity provides the buyer economies of scale as well as implement a first-generation value-add program” Hubbard and IPA’s Taylor Hill, Michael Ware, Drew Kile, Joey Tumminello, and Jack Windham represented the seller, Pardue Companies, and procured the buyer.
Greenville is just off Highway 380, 40 miles northeast of Dallas, within a 35-minute commute of McKinney and Allen. The properties are located within a one-mile radius of each other on Greenville’s most significant transportation corridors, Highway 380, and Wesley Street. Hunt Regional Hospital is next to the properties, and The Greenbelt, a 325-acre mixed-use development is close by.
The Ridge Apartments is a 112-unit property built in 1985. Highland Terrace, completed in 1978, has 172 units. Stone Ridge Apartments is a 144-unit asset constructed between 1968 and 1983. All the properties are two-story, garden-style communities with swimming pools and clothes-care facilities.
“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.