ARLINGTON, TX - Atlanta-headquartered ARA, the largest privately held, full-service investment advisory brokerage firm in the nation focusing on the multihousing industry, is pleased to announce the sale of Springfield at Ballpark Way to an undisclosed buyer. Springfield at Ballpark Way is a 264-unit multi-family asset located minutes from the Arlington Entertainment District. The Dallas, TX-based team of Brian O’Boyle, Sr., Brian O’Boyle, Jr., Brian Murphy, and Richard Furr led the exclusive listing marketing effort on behalf of Timberland Partners. The property traded at an undisclosed price.
Springfield at Ballpark Way, which was built in 1984, is a well-maintained class ‘B’ community that was 95% occupied at time of sale. It is located in Northern Arlington and boasts easy access to major thoroughfares such as Interstate 30, Highway 161, and Highway 360. Springfield at Ballpark Way is extremely close to tourist attractions such as Six Flags Over Texas and Six Flags Hurricane Harbor. Furthermore, the asset is less than two miles from the Rangers Ballpark in Arlington -- home to the Texas Rangers baseball team, and is just over two miles away from Cowboys Stadium -- home of the Dallas Cowboys.
“Springfield at Ballpark Way is a well-positioned class ‘B’ asset that has significant value-add potential. This is the kind of property that so many investors are looking for today,” said Brian O’Boyle, Jr. Adds O’Boyle, Sr., “Due to Springfield at Ballpark Way’s desirable location and how well the property had been maintained, we had a great deal of interest generated during our marketing process. Many investors were drawn to the upside potential for rents, and we were very happy to represent Timberland Partners in the disposition of this asset.”
To schedule an interview with an ARA executive regarding this transaction or for more information about ARA, nationally please contact Lisa Robinson at lrobinson@ARAusa.com, 678.553.9360 or Amy Morris at amorris@ARAusa.com, 678.553.9366; locally, Brian O’Boyle Sr. at oboyle@ARAusa.com or Robyn Randall at rrandall@arausa.com, 972.934.3400.
About ARA
Atlanta-headquartered ARA is the largest privately held, full-service investment advisory firm in the nation that focuses exclusively on the brokerage, financing and capital sourcing of multihousing properties including conventional, affordable, distressed assets, notes sales, seniors, student & manufactured housing and multihousing land. ARA is comprised of the country’s top investment professionals who leverage a unique and fully integrated cooperative business platform of shared information, relationships and technology driven solutions. ARA’s unified enterprise approach ensures that clients are delivered the broadest asset exposure, effective matching of buyers and sellers, and the shortest transaction timeframes in the industry. The combination of resources, unparalleled market expertise and nationwide presence in the multihousing marketplace has resulted in an annual production volume of $9.5 billion in real estate transactions in 2012. For detailed information on ARA’s extensive multihousing investment services, visit www.arausa.com