Newmark arranges sale of 264-unit multifamily community in suburban Dallas

Newmark announces the sale of a 264-unit, luxury multifamily community, Ashford, located in suburban Dallas. The townhome-style property traded from Pegasus Real Estate, a private commercial real estate investment firm, to an undisclosed buyer. Newmark Vice Chairman Brian Murphy, Executive Managing Director Brian O’Boyle, Jr. and Senior Managing Directors Richard Furr and Jakob Andersen facilitated the transaction. 

Built in 1995, Ashford features a mix of large one- and two-bedroom units with an average unit size of 985 square feet. Units feature garages, nine-foot ceilings, faux wood flooring, fireplaces, spacious closets, and balconies or patios with storage. Community amenities include a community center with fireplace, kitchen and outdoor seating; pool with lounge area, barbecue grills and covered pergola with seating, fitness center, dog park and outdoor lounge area with fireplace. 

Located at 2116 Marsh Lane in Carrollton, Texas, the property is within a 30-minute commute to prime employment centers featuring 3.3 million jobs. Major employers in the area include Toyota, FedEx Office, JPMorgan Chase, Liberty Mutual, Mary Kay and United Surgical Partners. Residents have access to numerous shopping and entertainment amenities at the nearby Shops at Willow Bend, Galleria Dallas, Marsh Lane Golf Center, Bent Tree Country Club and Preston Trail Golf Club. 

Previous Insight

Avia Equities sold The Wayman, a 284-unit multifamily community in Austin, Texas. The development was formerly known as Ridgecrest.

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Avia Equities, a recently formed investment firm, has sold The Wayman, a 284-unit multifamily community in Austin, Texas, formerly known as Ridgecrest.