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Thursday, January 21, 2021

Institutional Property Advisors completes luxury multifamily asset sale in Plano

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), has sold  The Huntington, a 320-unit, five-story luxury multifamily property in Plano, Texas.

Drew Kile, IPA senior managing director, and Will Balthrope, Joey Tumminello and Grant Raymond represented the seller, Catalyst Urban Development, and procured the buyer, Fairfield Residential.

“There are very few assets in Plano that provide a physical fit and finish that resemble The Huntington,” Tumminello said. “The asset’s location and differentiated property qualities attracted the most active institutional and private buyers. Ultimately, it was an exceptional outcome for both buyer and seller.”

Completed in 2018, the property is 25 minutes from Downtown Dallas and within walking distance of restaurants, retail stores, and employers.

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