Institutional Property Advisors Brokers 399-Unit Mid-Cities Multifamily Sale
September 09, 2026
GRAPEVINE, Texas, Sept. 9, 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 Preserve, a 399-unit multifamily asset in Grapevine, Texas.
“The property is a stabilized Class A asset with 96% average occupancy over the trailing 12 months in a city with a fundamentally restricted multifamily pipeline,” said Drew Kile, IPA executive managing director. “An average of only 292 units has been delivered yearly in Grapevine between 2020 and 2025.” Kile, Joey Tumminello, Taylor Hill, Michael Ware, and Shelby Vosburg of IPA represented the seller, Greystar, and procured the buyer.
The property is just off State Highway 360, near Dallas Fort Worth International Airport, a short drive from Downtown Dallas, Downtown Fort Worth and Frisco/Plano. Lockheed Martin’s F-35 plant and The AllianceTexas Corridor, a 27,000-acre master-planned logistics development home to over 500 companies, including BNSF and Amazon are within proximity. Retail and entertainment are close by in Historic Downtown Grapevine, Grapevine Mills Mall, and the Gaylord Texan Resort.
Completed in 2020, The Preserve is a three-story, garden-style property with an outdoor pavilion, a business center, fitness stations, nature overlooks, and a large swimming pool. Apartments have full-size washers and dryers, wine refrigerators, and walk-in closets with built-in wood shelving. Select units have 12-foot ceilings. The average unit size is 968 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 is a stabilized Class A asset with 96% average occupancy over the trailing 12 months in a city with a fundamentally restricted multifamily pipeline,” said Drew Kile, IPA executive managing director. “An average of only 292 units has been delivered yearly in Grapevine between 2020 and 2025.” Kile, Joey Tumminello, Taylor Hill, Michael Ware, and Shelby Vosburg of IPA represented the seller, Greystar, and procured the buyer.
The property is just off State Highway 360, near Dallas Fort Worth International Airport, a short drive from Downtown Dallas, Downtown Fort Worth and Frisco/Plano. Lockheed Martin’s F-35 plant and The AllianceTexas Corridor, a 27,000-acre master-planned logistics development home to over 500 companies, including BNSF and Amazon are within proximity. Retail and entertainment are close by in Historic Downtown Grapevine, Grapevine Mills Mall, and the Gaylord Texan Resort.
Completed in 2020, The Preserve is a three-story, garden-style property with an outdoor pavilion, a business center, fitness stations, nature overlooks, and a large swimming pool. Apartments have full-size washers and dryers, wine refrigerators, and walk-in closets with built-in wood shelving. Select units have 12-foot ceilings. The average unit size is 968 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.