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 Casa Bella, a 46-unit apartment property located in Garland, Texas.
Ford Braly, First Vice President Investments, Dylan York, Associate, and Al Silva, Senior Managing Director Investments, in Marcus & Millichap’s Fort Worth office, had the exclusive listing to market the property on behalf of the seller, a private investor from out of state. Despite market headwinds, The Silva Braly Team conducted 10 property tours during a short two-week marketing and received 5 offers, all of which were above initial pricing guidance with a non-refundable earnest money deposit. The Silva Braly Multifamily Team secured the buyer, a local private investor, who assumed the fixed rate Freddie Mac loan and plans to modernize and improve the physical asset and operations.
The Silva Braly Multifamily Team used their deep market knowledge and personal approach to ensure excellent results for the out-of-state seller. “Thank you for all of your hard work and guidance during the listing and escrow process. Really appreciated you delivering the result we badly needed. We could not have been successful without you.”
Since the beginning of last year, the Fort Worth-based Silva Braly Multifamily Team of Marcus & Millichap has completed the successful marketing and sale of over 30 apartment properties in the Dallas-Fort Worth area totaling more than 6,400 units and $805 million in transaction volume.
Casa Bella is located at 2626 W. Walnut St. in Garland, Texas.
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research, and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.