American Landmark Sells DFW Community
Institutional Property Advisors brokered the deal between the seller and buyer.
American Landmark has sold Heritage Park, a 204-unit community in Arlington, Texas. Institutional Property Advisors, a division of Marcus & Millichap, brokered the deal between the seller and buyer, WAK Management Co.
Completed in 1983, the 10-building, garden-style property comprises studio, one- and two-bedroom units. Common-area amenities include a fitness center, swimming pool, outdoor grill, dog park and renovated clubhouse. The previous owner implemented a capital improvement plan and upgraded the apartments and exteriors.
Located at 1108 Wynncrest Lane, on approximately 7 acres, the community is just off Interstate 30. The surrounding area has several several retail and dining options, including Lincoln Square commercial center, which is within 3 miles of Heritage Park. The asset is also 12 miles from DFW International Airport.
IPA’s Drew Kile, Will Balthrope, Joey Tumminello and Grant Raymond, in collaboration with Marcus & Millichap’s Bard Hoover and Nick Fluellen represented the seller and procured the buyer. In October, the IPA team facilitated the sale of The Destino, a 192-unit garden-style community in Grand Prairie, Texas.