Private Investor Acquires Vantage At Waco Mixed-Use Asset In Texas

The Vantage at Waco is a 288-unit multifamily asset located at 3001 S New Rd, Waco, TX, 76706. The mixed-use property was constructed in 2017 on 20 acres and consists of 13 residential buildings and an office. It offers one-, two-, and three-bedroom units with an average size of 838 square feet. The property is strategically positioned within a five-minute drive of Baylor University and the Magnolia Market shopping complex.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: Not specified
• Market: Waco
• Seller's Representative: Richard Robson(Marcus & Millichap), Tommy Lovell III(Marcus & Millichap), Will Balthrope(Institutional Property Advisors)
• Buyer: Private Investor

The deal was led by Will Balthrope, Tommy Lovell III, and Richard Robson from Marcus & Millichap, along with the involvement of Institutional Property Advisors. The buyer, a private investor engaging in a 1031 exchange, was represented by Mandelbaum & Associates/RealTax, repositioning specialists based in Manhattan Beach, California. The sale was executed leveraging the strong employment opportunities in Waco and the property's close proximity to educational institutions and essential facilities, making it an attractive investment opportunity for the new owner.