Institutional Property Advisors Closes 456-Unit Multifamily Asset Sale in Suburban Dallas-Fort Worth
September 01, 2026
NORTHLAKE, Texas, Aug. 31, 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 Dry Creek Ranch, a 456-unit multifamily property in Northlake, Texas.
“The property is a value-add asset with 95% average occupancy in the last 12 months in a city where in the last five years the population has grown 3.2% and the median value of a single-family home is over $605,000,” said Drew Kile, IPA executive managing director. Kile, Taylor Hill, Joey Tumminello, Michael Ware, and Shelby Vosburg of IPA represented the seller, Western Securities and procured the buyer, Bow River Capital.
The property is located at the intersection of Interstate 35W and Texas State Highway 114 near AllianceTexas, a 27,000-acre master-planned mixed-use development. The major corporate offices of four of the largest financial services companies in the country, Fidelity, Deloitte, TD Ameritrade, and Charles Schwab, are within 10 minutes of the property. Chadwick Farms, a 60-acre, mixed-use master-planned community is within one mile, and shopping, dining, and services are nearby at Northlake Crossing, Chadwick Commons, and Northlake Commons.
Completed in two phases in 2007 and 2014, Dry Creek Ranch is a controlled-access, three-story, garden-style property with a swimming pool, playground, basketball court, on-site laundry facility, business center, and car wash station. The average unit size is 927 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 value-add asset with 95% average occupancy in the last 12 months in a city where in the last five years the population has grown 3.2% and the median value of a single-family home is over $605,000,” said Drew Kile, IPA executive managing director. Kile, Taylor Hill, Joey Tumminello, Michael Ware, and Shelby Vosburg of IPA represented the seller, Western Securities and procured the buyer, Bow River Capital.
The property is located at the intersection of Interstate 35W and Texas State Highway 114 near AllianceTexas, a 27,000-acre master-planned mixed-use development. The major corporate offices of four of the largest financial services companies in the country, Fidelity, Deloitte, TD Ameritrade, and Charles Schwab, are within 10 minutes of the property. Chadwick Farms, a 60-acre, mixed-use master-planned community is within one mile, and shopping, dining, and services are nearby at Northlake Crossing, Chadwick Commons, and Northlake Commons.
Completed in two phases in 2007 and 2014, Dry Creek Ranch is a controlled-access, three-story, garden-style property with a swimming pool, playground, basketball court, on-site laundry facility, business center, and car wash station. The average unit size is 927 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.