Brazos Residential Acquires 224-Unit Addison Park Multifamily In Arlington Through Marcus & Millichap

The property involved in this transaction is Addison Park, a 224-unit multifamily affordable housing asset located at 4901 Pacific Drive in Arlington, Texas. The property is part of the Arlington market and was sold with the commitment to maintain its affordable status for the community.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: Not specified
• Units: 224
• Address: 4901 Pacific Drive
• Market: Arlington
• Buyer: Will Hancock - Brazos Residential
• Brokers: Bard Hoover, Sam Pettigrew, Nick Fluellen & Wesley Racht - Marcus & Millichap
• Loan assumption involved: Yes
• Approval from: Texas Department of Housing and Community Affairs

This transaction saw Will Hancock representing Brazos Residential, while the sale was brokered by a team from Marcus & Millichap including Bard Hoover, Sam Pettigrew, Nick Fluellen, and Wesley Racht. The brokers played a pivotal role in facilitating the deal, ensuring that the buyer's objectives aligned with the property's community goals.