Marcus & Millichap Arranges The Sale Of An 8-Unit Apartment Building

6/23/17

Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Diaz Avenue Townhomes, an 8-unit apartment building located in Fort Worth, Texas, according to Kyle Palmer, regional manager of the firm’s Fort Worth office.

John Barker, Senior Vice President Investments, and Trey McGhin, Associate in Marcus & Millichap’s Fort Worth office, had the exclusive listing to market the property on behalf of the seller, an investment partnership. The exclusive marketing process by Marcus & Millichap generated multiple tours and multiple offers within three days. The buyer, a group of private investors, was also secured by Mr. Barker and Mr. McGhin and was selected to purchase the property after only one week of marketing.

Diaz Avenue Townhomes is located at 4928 Diaz Avenue in Fort Worth, Texas. A well maintained Multi-family asset provides the new owner long term upside and stable cash flow. Seated near Downtown Fort Worth, the area offers fine dining, unique shopping, relaxing spas, outdoor and live entertainment. The property sits only minutes away from Interstate 35, Highway 377 and the Chisolm Trail Parkway. The asset is also surrounded by easy places to walk to including Arlington Heights High School, Central Market and the Fort Worth Cultural District.

About Marcus & Millichap (NYSE: MMI)

With over 1,700 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 9,000 transactions in 2016 with a value of approximately $42.3 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com

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