Institutional Property Advisors Closes Two-Property Multifamily Asset Sale in Dallas
March 19, 2026
DALLAS, March 19, 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 Creekstone and Gable Point, two value-add multifamily assets totaling 372 units in Dallas, Texas.
“Located adjacent to each other, we placed these assets on the market for the original developer, who owned and managed them for over 40 years,” said William Hubbard, IPA senior director investments. “This acquisition provides the buyer with an extremely rare opportunity to 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, Clover Capital Partners.
The properties are located just off Interstate 635, less than 10 miles from Downtown Dallas, a short walk from a Dallas Area Rapid Transit bus stop. The Lake Highlands submarket and the Dallas Athletic Club border the properties, and the Lake Highlands Town Center shopping mall is nearby. Employers in the area include Texas Health Presbyterian Hospital Dallas and Medical City Dallas Hospital.
Creekstone is a two-story, 220-unit apartment property built in 1982. Gable Point is a two-and three-story, 152-unit property constructed in 1986. Community amenities at the two properties include swimming pools and clothes-care facilities. Apartments at both communities have spacious floorplans and closets, and a private patio or balcony. Select units have wood-burning fireplaces, washer and dryer connections, and upgraded appliance packages.
“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.
“Located adjacent to each other, we placed these assets on the market for the original developer, who owned and managed them for over 40 years,” said William Hubbard, IPA senior director investments. “This acquisition provides the buyer with an extremely rare opportunity to 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, Clover Capital Partners.
The properties are located just off Interstate 635, less than 10 miles from Downtown Dallas, a short walk from a Dallas Area Rapid Transit bus stop. The Lake Highlands submarket and the Dallas Athletic Club border the properties, and the Lake Highlands Town Center shopping mall is nearby. Employers in the area include Texas Health Presbyterian Hospital Dallas and Medical City Dallas Hospital.
Creekstone is a two-story, 220-unit apartment property built in 1982. Gable Point is a two-and three-story, 152-unit property constructed in 1986. Community amenities at the two properties include swimming pools and clothes-care facilities. Apartments at both communities have spacious floorplans and closets, and a private patio or balcony. Select units have wood-burning fireplaces, washer and dryer connections, and upgraded appliance packages.
“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.