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Rio Vista Purchased by California Real Estate Investor

real estate
Marcus & Millichap completes the multifamily asset sale of Rio Vista, a 246-unit apartment asset in the northeast suburbs of Fort Worth.

A leading Dallas commercial real estate brokerage firm finalized the sale of Rio Vista, a Fort Worth apartment complex.

Marcus & Millichap specializes in investment sales, financing, research, and advisory services, have announced the sale of Rio Vista, a 246-unit apartment asset in the northeast suburbs of Fort Worth.

“With over $4 million in recent capital enhancements throughout the property, Rio Vista’s investment and prospective resident appeal has never been higher,” said Al Silva, senior managing director of investments for Marcus & Millichap.

Silva and Ford Braly, first vice president investments on the Silva multifamily team of Marcus & Millichap, represented the seller, Florida-based Greenwater Investments, and procured the buyer, a California-based real estate investor.

“The property attracted eleven property tours and numerous offers from a wide range of buyers from all over the U.S. during our four-week marketing period,” explained Silva. “We were able to exceed our seller’s price expectations and achieve certainty of the close from the day the agreement was made between buyer and seller.”

Situated in the Birdville ISD, Rio Vista apartments feature one- and two-bedroom home-styled floor plans, including access to communal and in-unit amenities.

Two renovated resort-style pools, spacious courtyard, wooded landscape, playground, dog park, and soccer field are just some of the property’s amenities. The new owners are planning to improve interior finishes as units turn over.

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