La Jolla Terrace La Jolla Terrace has 340 units and was recently sold along with four other assets.

FORT WORTH—Continued demand by investors for quality workforce housing in North Texas, along with the opportunity for new ownership to enhance value in a supportive market are the impetuses for five multifamily properties to recently change hands. The properties have a total of 705 units and were sold for $45.625 million. The buyers were undisclosed.

“In the current economic landscape, a strong flow of investment capital seeks commercial real estate investment opportunities that can provide solid returns,” says Bard Hoover, first vice president investments with Marcus & Millichap. “The healthy market fundamentals in North Texas, coupled with opportunities to arrange attractive new debt and implement value-add strategies made these assets especially compelling.”

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Lisa Brown

Lisa Brown is an editor for the south and west regions of She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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