Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Regency Oaks, a 100-unit apartment property located in Fort Worth, Texas, according to Mark R. McCoy, Regional Manager of the firm’s Fort Worth office.
Al Silva, Senior Managing Director Investments in Marcus & Millichap’s Fort Worth office, exclusively marketed the property on behalf of the seller, Canada-based Republic Funds. The buyer, a Texas-based limited liability company, was also secured by Mr. Silva. The property attracted multiple offers over a four-week marketing period and closed less than 60 days after an agreement was reached between buyer and seller. Despite an unsuccessful marketing effort by a competing firm late last year and complications related to the COVID-19 crisis, the Silva Multifamily Team was able to get this transaction across the finish line. The new owners will invest a significant amount of money into improvements to common areas and unit interiors, thus making Regency Oaks a more attractive option for area renters.
Regency Oaks is located at 2121 Handley Drive in Fort Worth, Texas. Situated southeast of the Interstate 30/Loop 820 Interchange, the property is less than 15 minutes from both Downtown Fort Worth and AT&T Stadium, Texas Live!, and the new Texas Rangers Stadium, which are strong employment drivers in the area.
About Marcus & Millichap (NYSE: MMI)
With over 2,000 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 9,726 transactions in 2019 with a value of approximately $50 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.
