Institutional Property Advisors Brokers Dallas Area Multifamily Asset Sale
June 15, 2026
RED OAK, Texas, June 15, 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 Emerson at Red Oak, a 306-unit multifamily asset in Red Oak, Texas.
“Located 10 miles south of Dallas in one of the fastest-growing submarkets in Dallas-Fort Worth, the property is in the center of the Southern DFW data center corridor, which has attracted over $1.3 billion in technology investments from Google, Compass Datacenters, and DataBank,” said Joey Tumminello, IPA senior managing director investments. “Red Oak’s population has grown 31% since 2020, the average value of a single-family home in the city is over $400,000, and average annual household income exceeds $119,000.” Tumminello, Michael Ware, Drew Kile, and Taylor Hill of IPA represented the seller, CESM Real Estate, and procured the buyer, Professional Equity Management (PEM).
The property’s location just off Red Oak Road gives residents access to Interstate 35E, which connects to major employment centers throughout the Metroplex. The 70-acre Red Oak Legacy Square mixed-use development and Bombardier’s advanced wing manufacturing facility are close by. Employers nearby include Gerdau, Target, Qarbon Aerospace, and Walgreens.
Completed in 2023, Emerson at Red Oak is a two-story, townhome-style property with a resort-style swimming pool, fitness center, picnic and grilling areas, dog park, game room, and business center. Apartments have full-size washers and dryers, stainless-steel appliances, built-in mudrooms, large closets, and deep garden sinks. The average unit size is 904 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.
“Located 10 miles south of Dallas in one of the fastest-growing submarkets in Dallas-Fort Worth, the property is in the center of the Southern DFW data center corridor, which has attracted over $1.3 billion in technology investments from Google, Compass Datacenters, and DataBank,” said Joey Tumminello, IPA senior managing director investments. “Red Oak’s population has grown 31% since 2020, the average value of a single-family home in the city is over $400,000, and average annual household income exceeds $119,000.” Tumminello, Michael Ware, Drew Kile, and Taylor Hill of IPA represented the seller, CESM Real Estate, and procured the buyer, Professional Equity Management (PEM).
The property’s location just off Red Oak Road gives residents access to Interstate 35E, which connects to major employment centers throughout the Metroplex. The 70-acre Red Oak Legacy Square mixed-use development and Bombardier’s advanced wing manufacturing facility are close by. Employers nearby include Gerdau, Target, Qarbon Aerospace, and Walgreens.
Completed in 2023, Emerson at Red Oak is a two-story, townhome-style property with a resort-style swimming pool, fitness center, picnic and grilling areas, dog park, game room, and business center. Apartments have full-size washers and dryers, stainless-steel appliances, built-in mudrooms, large closets, and deep garden sinks. The average unit size is 904 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.