Institutional Property Advisors Brokers Apartment Asset Sale in Dallas
DALLAS, May 18, 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 Park West, a 240-unit apartment asset in Dallas, Texas.
“The property is in a submarket where average annual income exceeds $135,000 and the average home value is over $1.5 million,” said Michael Ware, IPA senior managing director investments. “This affluent demographic base supports strong demand for high-quality rental environments and positions the property to capture premium rents at a significant discount to homeownership.” Ware, Taylor Hill, Drew Kile, and Joey Tumminello of IPA represented the seller, and procured the buyer, Berkshire Residential Investments.
The apartment complex is in the Oak Lawn neighborhood at the intersection of Cedar Springs Road and Douglas Avenue, within the corridor between Dallas North Tollway and Highway 75. The submarket borders Uptown, Highland Park, the Southwestern Medical District, and the Design District, which includes a combined total of more than 200,000 jobs and over 60,000 businesses. Dallas Love Field, and University Park, home of Southern Methodist University are nearby, and shopping and entertainment are close by at The Oak Lawn Strip.
Completed in 2014, Park West is a four-story property with a resort-style swimming pool, a 4,000-square-foot fitness center, two dog parks, and a parking garage. Apartments have granite countertops, kitchen islands, garden soaking tubs, and walk-in closets. The average unit size is 924 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.