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 Mesa Park, a 12-unit apartment property located in Grand Prairie, Texas, according to Tim A. Speck, division manager in the firm’s Dallas office.
Matt Aslan, Nick Fluellen and Bard Hoover, investment specialists in Marcus & Millichap’s Dallas office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, an individual/personal trust, was secured and represented by Matt Aslan, Nick Fluellen and Bard Hoover.
“We had a contract ready to sign pre-Covid 19 but decided to hold off on executing until we saw rent collections for several months. When April, May and June all came in at 100% rent collected, the buyer felt comfortable to proceed. Setting proper seller and buyer expectations day one was key for how smooth the escrow process was for Mesa Park, and by doing so we were able to create a smooth transaction despite the market disruption,” commented Aslan, “Having worked the 75 and under space in DFW for several years, I have built a very strong buyer pool. Finding the buyer for this deal was a simple phone call, and the key to closing was remaining patient throughout the market disruption during the transaction”.
Mesa Park is located at 2462 Ft Worth St in Grand Prairie, Texas.
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.
