Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Tribecca Pointe, a 175-unit apartment property located in Hurst, Texas, according to Mark R. McCoy, Regional Manager of the firm’s Fort Worth office.

Al Silva, Senior Managing Director Investments and Ford Braly, Vice President Investments in Marcus & Millichap’s Fort Worth office, exclusively marketed the property on behalf of the seller, a Dallas-based investment company. The buyer, a Dallas-based investor group, was also secured by the Silva Multifamily team. During a 4-week marketing campaign, the 1969 vintage asset attracted 29 property tours from potential buyers and 11 offers from a diverse group of both local and out-of-state investors. The sale closed just 65 days after an agreement was reached between buyer and seller.

Tribecca Pointe is located at 601 Brown Trail in Hurst, Texas. Hurst is strategically located in the heart of the D/FW metroplex just minutes from Dallas/Fort Worth International Airport. The property enjoys great visibility and is conveniently situated near shopping centers and schools and falls within the well-respected HEB Independent School District. The new owners plan to continue the existing unit interior renovations program and make the property a more attractive place to live for area renters.

During the past year, the Fort Worth-based Silva Multifamily Team has conducted the sale of 34 apartment complexes in D/FW totaling nearly 7,000 units and $500 million in transaction volume.

About Marcus & Millichap (NYSE: MMI)

With nearly 2000 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 9,472 transactions in 2018 with a value of approximately $46.4 billion. Marcus & Millichap 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.