Marcus & Millichap Sells Luna Vista & Polk Villas Multifamily Portfolio In Fort Worth & Dallas For $40M

The multifamily assets, Luna Vista in Fort Worth and Polk Villas in Dallas, have been sold by Marcus & Millichap for a total of $40 million. Both properties, comprising a total of 401 units, were purchased by an undisclosed buyer. Luna Vista is located at 5925 Callaston Lane in Fort Worth, while Polk Villas is situated at 3288 South Polk Street in Dallas.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $40,000,000
• Units: 401
• Price per Unit: $99,751
• Market: Fort Worth & Dallas

The sale of Luna Vista and Polk Villas was facilitated by Al Silva and Ford Braly from Marcus & Millichap. The Silva Braly team has been actively involved in several apartment property sales in the Dallas-Fort Worth area since the beginning of 2022. The properties are expected to undergo improvements to attract the region's renter base.