Institutional Property Advisors Brokers Sale of 240-Unit Park West Multifamily Asset in Dallas's Oak Lawn Submarket
DALLAS, May 18, 2026 — Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced the sale of Park West, a 240-unit multifamily asset located in the Oak Lawn neighborhood of Dallas, Texas. Berkshire was identified as the buyer.
The IPA deal team — comprising Michael Ware, senior managing director investments; Taylor Hill; Drew Kile; Joey Tumminello; and Cameron Purse — represented the seller and procured the buyer.
Submarket Demographics
IPA cited the affluent demographic profile surrounding the property as a key element of the transaction. According to the firm, average annual household income in the immediate submarket exceeds $135,000, and the average home value surpasses $1.5 million.
"The property is in a submarket where average annual income exceeds $135,000 and the average home value is over $1.5 million," said Michael Ware, IPA senior managing director investments. "This affluent demographic base supports strong demand for high-quality rental environments and positions the property to capture premium rents at a significant discount to homeownership."
Property Details and Location
Park West is situated at the intersection of Cedar Springs Road and Douglas Avenue in Oak Lawn, within the corridor between Dallas North Tollway and Highway 75. The four-story property was completed in 2014 and offers 240 apartment homes with an average unit size of 924 square feet.
Unit interiors feature granite countertops, kitchen islands, garden soaking tubs, and walk-in closets. Community amenities include a resort-style swimming pool, a 4,000-square-foot fitness center, two dog parks, and a parking garage.
The submarket borders Uptown, Highland Park, the Southwestern Medical District, and the Design District — a combined total of more than 200,000 jobs and over 60,000 businesses, according to IPA. Dallas Love Field and University Park, home of Southern Methodist University, are also nearby, as is The Oak Lawn Strip.
Transaction Details
A sale price was not disclosed. IPA's Texas platform spans Dallas–Fort Worth, Houston, Austin, and San Antonio. "IPA in Texas provides investors with a large inventory of high-quality multifamily investment opportunities in every market, offering local market research and sales expertise in Dallas-Fort Worth, Houston, Austin, and San Antonio," said Will Balthrope, IPA executive director.
About IPA
Institutional Property Advisors operates as a division of Marcus & Millichap, focusing on the acquisition, disposition, and financing of institutional properties and portfolios. The firm combines real estate investment and capital markets expertise with proprietary research to serve institutional clients across major U.S. markets.
Sources
Institutional Property Advisors — Brokers Apartment Asset Sale in Dallas (May 18, 2026)