Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced the sale of Coventry at Cityview, a 360-unit apartment complex in Fort Worth, the company said in a news release Oct. 4.
“Fort Worth is one of the strongest apartment markets in the state of Texas,” said Will Balthrope, IPA executive managing director. Balthrope, Drew Kile, IPA senior managing director, Joey Tumminello, IPA director, and Grant Raymond, IPA associate, represented the seller, Harbor Group International LLC, and procured the buyer, WAK Management Co.
Coventry at Cityview is less than one mile south of the intersection of Interstate 20 and Chisholm Trail Parkway, which provides residents with access to major employers, retail, and entertainment centers throughout Fort Worth.
“The strong fundamentals of the submarket and Coventry at Cityview’s historical performance are well aligned,” said Tumminello.