Marcus & Millichapa leading commercial real estate brokerage specializing in investment sales, financing, inspections and advisory services, has announced the sale of Serena Vista, a 120-unit apartment community located in Arlington, Texas.
“Despite tough market conditions, this was a great opportunity to acquire a quality Class B asset with significant upside potential,” said Nick Fluellen, executive director of investments. “We had a motivated buyer and seller in this transaction, and only when that comes together can you get a great deal done.”
Fluellen, Byrd Huber and Chris Pearson, investment specialists in Marcus & Millichap’s Dallas office, had exclusive marketing rights to market the property on behalf of the private seller and obtained the buyer, Green Mountain Properties LLC.
Serena Vista was built in 1980 and features 120,000 square feet with a mix of one and two bedroom units. Units have vaulted ceilings and walk-in closets. Amenities include a swimming pool, on-site laundry, fitness center, clubhouse and dog park. The community is located near major freeways, shopping centers and entertainment venues, including AT&T Stadium and Globe Life Park.
Marcus & Millichap (NYSE: MMI) is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of December 31, 2023, the firm had 1,783 investment sales and financing professionals in more than 80 offices providing investment brokerage and financing services to buyers and sellers of commercial real estate. The firm also provides market research, consulting and advisory services to its clients. Marcus & Millichap closed 7,546 transactions in 2023, generating approximately $43.6 billion in sales.
