|Houston's Alexan Heights trades hands||Houston's Alexan Heights trades hands||https://www.recenter.tamu.edu/news/newstalk-texas/?Item=14718||2016-10-03T05:00:00Z||2016-10-03T20:00:00Z|
HOUSTON - The nation’s largest real estate investment trust has purchased a new luxury apartment in Houston’s Heights neighborhood.
Mid-America Apartment Communities Inc. has acquired Alexan Heights, a five-story, 352-unit apartment complex at 655 Yale St.
The red-brick building sits on a 3.5-acre site near the Heights Hike and Bike Trail at the intersection of Yale and 7th St.
Alexan Heights opened in fall 2015.
The midrise apartment is currently 94 percent leased and 83 percent occupied, according to HFF’s marketing materials.
Trammell Crow Residential was charging tenants an average of $2.27 per sf, or about $1,940 per month for a unit averaging 854 sf, according to the marketing materials.
|Houston Business Journal||Houston-The Woodlands-Sugar Land||Multifamily|| http://www.bizjournals.com/houston/news/2016/09/27/exclusive-nation-s-largest-reit-scoops-up-luxe.html|
Check out Houston Multifamily Market Research to see the latest data and reports.