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‘80s-Vintage Multifamily Trades in Plano

Institutional Property Advisors (IPA), a division of Marcus & Millichap, finalized the sale of Fountains at Steeplechase, a 368-unit multifamily asset in Plano.

IPA’s Drew Kile, Will Balthrope, Joey Tumminello and Grant Raymond, along with Bard Hoover and Nick Fluellen in Marcus & Millichap’s Dallas office, represented the seller, Hamilton Zanze, and procured the buyer, Bridge Partners.

“Located in one of the fastest-growing cities in the country, Fountains at Steeplechase has historically demonstrated exceptional performance,” said Kile. Tumminello added, “The limited amount of ‘80s-vintage product in Plano made this a highly sought-after asset.”

Fountains at Steeplechase is located near U.S. Highway 75, less than 15 minutes from 25 million square feet of office space and 130,000 jobs along the Telecom Corridor.

Constructed in 1984 on 23 acres, the property has two swimming pools, a fitness center and a clubhouse with a cybercafé. The average unit size is 857 square feet.

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Inside The Story

Connect With IPA's BalthropeConnect With IPA's KileConnect With IPA's Tumminello

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition