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IPA Closes Sale of Apartments Near DFW Airport

Institutional Property Advisors (IPA), a division of Marcus & Millichap, arranged the sale of Dolce Living Home Town, a 316-unit apartment asset in the  Fort Worth suburb of North Richland Hills.

“Dolce Living Home Town is a uniquely designed, newly constructed midrise multifamily asset in a high-growth Fort Worth suburb where for the past two years, average occupancy has been 95.3%,” said Drew Kile, IPA senior managing director.

Kile, IPA’s Will Balthrope, Joey Tumminello and Grant Raymond represented the seller, DLC Residential and procured the buyer, SPI Advisory. 

“At closing, the asset was over 96% occupied with minimal concessions,” added Tumminello. “In a challenging environment, the differentiation of the asset and the quality control of the process led to a great result for both the buyer and the seller.”

Completed in two phases between 2016 and 2018, the apartment complex is located directly east of Dallas-Fort Worth International Airport.

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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