December 14, 2020
Institutional Property Advisors (IPA), a division of Marcus & Millichap, arranged the sale of Dolce Living Home Town, a 316-unit apartment asset in the Fort Worth suburb of North Richland Hills.
“Dolce Living Home Town is a uniquely designed, newly constructed midrise multifamily asset in a high-growth Fort Worth suburb where for the past two years, average occupancy has been 95.3%,” said Drew Kile, IPA senior managing director.
Kile, IPA’s Will Balthrope, Joey Tumminello and Grant Raymond represented the seller, DLC Residential and procured the buyer, SPI Advisory.
“At closing, the asset was over 96% occupied with minimal concessions,” added Tumminello. “In a challenging environment, the differentiation of the asset and the quality control of the process led to a great result for both the buyer and the seller.”
Completed in two phases between 2016 and 2018, the apartment complex is located directly east of Dallas-Fort Worth International Airport.
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