SWBC Sells Five-Property Multifamily Portfolio in Texas
Institutional Property Advisors, a division of Marcus & Millichap, handled the $350-million sale of all five communities for SWBC Real Estate. Called the Royalton Portfolio, two were located in McKinney, and one each in Grand Prairie, Rockwall and Buda. The sale amounts to 1,437 units.
The properties had different purchasers. The Lightbulb Capital Group, The Family Office of Jay Schuminsky and Brixton Capital were reported to be buyers.
IPA’s Drew Kile describes how it went down, “Handling the sale of five new construction assets in different markets came down to finding the right buyers looking to expand their footprint in best-in-class, suburban core product.”
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.