Professional Equity Management Acquires 306-Unit Multifamily Property From CESM Real Estate In Red Oak

The transaction involved Emerson at Red Oak, a multifamily property consisting of 306 units located at 351 Hickory Creek Drive in Red Oak, Texas. This asset was constructed in 2023 and is situated in the southern Dallas data center corridor, benefiting from proximity to major employers and infrastructure, along with strong population and income growth in the surrounding area.

Institutional Property Advisors, a division of Marcus & Millichap, represented the seller, CESM Real Estate, and the buyer, Professional Equity Management, in this transaction. The brokers involved in the deal were Joey Tumminello, Michael Ware, Drew Kile, and Taylor Hill.