Texas + Dallas-Fort Worth + Apartments | December 19, 2022

Marcus & Millichap arrange sale of two Dallas-area Class B rental communities

Two Dallas-Area Value-Add Apartments Trade for Combined $82M

Marcus & Millichap arranged the sale of The Hub and 6500 South, two multifamily assets located in Dallas and Arlington, Texas. The Class B assets sold for a combined $82 million.

Marcus & Millichap’s Al Silva added, “The Hub and 6500 South share many similar qualities that have enhanced their value over the past few years, including substantial capital improvements to create well-maintained properties with updated communal and in-unit amenities.” Silva and Marcus & Millichap’s Ford Braly represented the sellers and procured the buyers in both transactions. The sellers were Intercapital Group for the 536-unit 6500 South and Madera Residential for the 168-unit The Hub. The buyers were two separate Dallas-Fort Worth-based private investment companies.

The new owners at both properties are planning to implement aggressive value-add improvements.

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About Mike Boyd

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.