IPA Closes Multifamily Sale and Arranges Financing for Sylvan Thirty in Dallas
Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), has closed the sale and arranged acquisition financing for Sylvan Thirty, a 201-unit, LEED-certified multifamily asset located in West Dallas, Texas, the firm announced May 15, 2026.
Beverly Hills, California-based Archway Properties acquired the property, with acquisition financing provided by a lender subsidiary of BrightSpire Capital. Financial terms of the transaction were not disclosed.
Property Overview and West Dallas Location
Sylvan Thirty was completed in 2015 as West Dallas's first mixed-use development. The property sits approximately one mile from Downtown Dallas, near Interstate 30, and is positioned between the Trinity Groves retail and dining development and the Bishop Arts District.
The multifamily asset comprises 201 apartments with an average unit size of 856 square feet. Amenities include a gated parking garage, swimming pool, sundeck, fitness center, and a private party lounge. Individual units feature central air conditioning, stone countertops, and stainless-steel appliances, with select units offering pantries, patios or balconies, and stained concrete flooring.
The property's ground-floor retail component — comprising 14 shops and dining options — was not included in the sale.
"Completed in 2015 as West Dallas's first mixed-use development, the property capitalizes on direct access to downtown's 135,000-plus jobs, diverse, high-profile employers, and over 140 office buildings," said Joey Tumminello, IPA senior managing director investments. "Additionally, residents benefit from 14 shops and dining options on the ground level that were not a part of the sale."
Nearby demand drivers include the Methodist Dallas Medical Center, Henley-Johnston & Associates Inc., and the University of North Texas at Dallas. The property also offers access to the Dallas central business district, the Southwestern Medical District, and Dallas Fort Worth International Airport.
Brokerage and Financing Teams
The IPA investment sales team representing the seller and procuring the buyer included Joey Tumminello, Taylor Hill, Michael Ware, Drew Kile, and Shelby Vosburg. The seller was not identified in the announcement.
Brian Eisendrath, Cameron Chalfant, Harry Krieger, and Jake Vitta of IPA Capital Markets arranged the acquisition loan from a lender subsidiary of BrightSpire Capital.
"Debt capital markets remain robust for strong sponsors and high-quality multifamily assets," said Krieger. "Dallas continues to be one of the most sought-after markets in the country, and well-structured deals with experienced operators are getting done at competitive terms."
IPA's Texas Multifamily Platform
"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.
IPA operates as a division of Marcus & Millichap, providing investment sales and capital markets services focused on institutional-grade commercial real estate assets and portfolios across North America.