The sale of The Audrey, a 211-unit luxury apartment property in Mansfield, was successfully facilitated by an Institutional Property Advisors (IPA) team led by Drew Kile. Representing the sellers Carleton Companies and M.R. Development, IPA also identified the buyers RPM and a fund managed by Roseview Investment Advisors who secured an acquisition loan.
According to Kile of IPA, there was high demand for newly built luxury multifamily assets in central locations within the Metroplex area as evidenced by The Audrey’s quick lease-up and stabilization since its completion in 2021. Conveniently located near State Highway 360 and U.S Route 287, residents have easy access to both Mid-Cities and Downtown Fort Worth.
Boasting resort-style amenities such as a pool, entertainment areas,and on-site dry-cleaning services,the three-story garden-style property also features conveniences like a Bocce ball courtand24-hour parcel concierge service.Apartments are equipped with nine-foot ceilings,washer/dryer units,and garden-style soaking tubs.The average unit size is923 square feet.
This successful transaction showcases IPA’s expertise in connecting sellers with buyers while securing favorable financing options for all parties involved.
