Institutional Property Advisors Sells 333-Unit Multifamily Asset Eastpark In Denton Texas

The asset involved in the transaction is a 333-unit multifamily property located at 2028 Laderal Lane, Denton, Texas, within an 11-acre site. The property, known as Eastpark, was built in 2022 and is part of the Rayzor Ranch mixed-use development. It recently achieved a 97% occupancy rate over the past year without concessions, emphasizing its demand in the market.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: Not specified
• Units: 333
• Acres: 11
• Market: Denton

The transaction was facilitated by Institutional Property Advisors (IPA), a division of Marcus & Millichap. The team representing the property included Cameron Purse, Drew Kile, Joey Tumminello, Michael Ware, Taylor Hill, and Will Balthrope. The representation was provided to an affiliate of Price Brothers, which was involved in the transaction.