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Institutional Property Advisors Negotiates Fort Worth Multifamily Asset Sale

Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of The Heights of Cityview, a 344-unit multifamily property in Fort Worth, Texas.

The Heights of Cityview is in Southwest Fort Worth near the intersection of Chisolm Trail Parkway and Interstate 20. Waterside, a $185 million, mixed-use development alongside the Trinity River is two miles away and The Shops at Clearfork, which has 2 million square feet of office and 1.2 million square feet of retail space, is 10 minutes away.

Situated on 22-plus acres, the property has 115 direct-access garages and 87 carports. Community amenities include two resort-style pools, a three-lane lap pool and a two-acre pet park. The average unit size 984 square feet.

Taylor Hill, IPA senior vice president investments, and IPA’s Drew Kile, Joey Tumminello, Michael Ware, Asher Hall and Will Balthrope represented the seller and procured the buyer. The transaction price was not disclosed.


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About Erik Hamilton

Erik Hamilton, who has more than 15 years in CRE journalism, is a former staff writer with the Los Angeles Times and the Orange County Business Journal. In addition to The Times and the OCBJ, he was also a reporter and editor for Crittenden Research, The San Bernardino Sun and UPI. Erik also worked six years in CRE public relations with Los Angeles-based Hoyt Organization, where he was a Senior Account Executive. He later joined Lee & Associates where he served as the Director of Corporate Communications. There ,in addition to his work with Lee’s CEO, he managed 57 offices nationwide and provided PR, social media and media training for the offices. A graduate of UC Irvine, with a BA in history, he is an avid record collector where he continues to search for a rare Joy Division single.

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