Dallas-Fort Worth Community Changes Hands
- Nov 12, 2019
Darwin German Real Estate Investments has sold Tribecca Pointe, a 175-unit property in Hurst, Texas. The asset was marketed by Marcus & Millichap, who also represented the buyer, a Dallas-based investor group. During a four-week period, the property attracted 11 offers from both local and out-of-state investors.
Tribecca Pointe is located on a 7.3-acre site at 601 Brown Trail, near shopping centers and minutes away from the Dallas-Fort Worth International Airport. The property benefits from being within the Hurst-Euless-Bedford Independent School District.
Built in 1969, the vintage community consists of 26 two-story buildings that feature one- to three-bedroom apartments, according to Yardi Matrix. Its common-area amenities include a playground and a swimming pool. The new owners are planning to continue the current renovations program for the unit interiors.
Marcus & Millichap’s team consisted of Al Silva, senior managing director of investments, and Ford Braly, vice president of investments in the firm’s Fort Worth office.