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 Solaris Ranch, an 80-unit apartment property located in Fort Worth, Texas, according to Kyle Palmer, Regional Manager of the firm’s Fort Worth office.
Al Silva, Senior Vice President Investments and Mark McCoy, Associate in Marcus & Millichap’s Fort Worth office, had the exclusive listing to market the property on behalf of the seller, a California-based private investment company. The buyer, an out of state partnership, was secured by Mr. Silva, Mr. McCoy and Ford Braly, Senior Associate in Marcus & Millichap’s Fort Worth office. The property attracted multiple offers from local and out of state investment groups and ultimately closed just 51 days after an agreement was reached. The new owner is planning to make interior improvements to the property in order to make it more attractive to area renters and more competitive in the local rental market.
Solaris Ranch was built in 2009 and is located at 9417 Michael Drive off of Everman Parkway, which is home to the Carter Industrial Park and many other notable employers including Halliburton, Fastenal, Miller Brewing and many others. Situated just minutes south of downtown Fort Worth, this property is also in close proximity to several area schools and the recently expanded Huguley Hospital.
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
