HOUSTON, TX – Berkadia has arranged the sale and financing for Alexan Auburn Lakes, a 346-unit multifamily community located only a short distance from the prestigious Woodlands community. Senior Managing Director Ryan Epstein, Director Jennifer Ray, Associate Director Wes Breeding, and Associate Scott Bray of Berkadia’s Houston office represented the seller, Trammell Crow Residential and Prime Property Investors. Senior Managing Director Tucker Knight and Director Nick Murphy of Berkadia’s Houston office secured the financing on behalf of the buyer, Olympus Property, a Fort Worth based full service multifamily investment and property management organization with 17,000 units across 10 states.
“With continued interest from a variety of investors, Houston’s multifamily market remains competitive, even for newly built properties such as this one,” said Ryan Epstein. “Solid fundamentals that are consolidated within the Spring area of Houston made this property especially attractive, and consistent growth in the surrounding area will also enhance the standard of living for residents of this community.”
Built in 2015, Alexan Auburn Lakes is located at 6000 West Rayford Road. One-, two-, and three-bedroom units offer wood vinyl floors, granite countertops, stainless steel appliances , USB ports, keyless entry system, island kitchens and built-in Blue-Tooth speaker systems. Community amenities include two tropical pools with courtyards, bark park and groom room, and reflection lake and running trail.
Situated a short distance from The Woodlands, the community is ideally located near 21 million square feet of office, research, institutional and industrial space. High-paying centers of employment include Chevron Phillips Chemical, Maersk Line, Halliburton, CHI St. Luke’s Health and Texas Children’s Hospital. Additionally, the fast-growing Springwoods Village is less than four miles southeast, which is home to HP’s new campus and the new Exxon Mobil campus.
About Berkadia: Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets. To learn more about Berkadia, please visit www.berkadia.com.
About Trammell Crow Residential: Trammell Crow Residential (TCR) is a national multi-family real estate developer with over 40 years’ experience and a local presence in 12 key U.S. markets. Since 2012, TCR has developed, financed and asset managed more than $5 billion of multi-family communities totaling over 20,000 units, delivering amenity-rich communities in economically thriving locations nationwide. TCR and Crow Holdings Industrial (CHI) are the development divisions of Crow Holdings, a real estate investor, developer and owner with a global multi-asset investment platform and longstanding industry relationships built on trust, integrity and partnership. For more information, please visit www.TCR.com.
Prime Property Investors, Ltd. based in Northbrook, Illinois is an innovative and leading edge real estate investment firm founded by Co-CEOs Barbara J. Gaffen and Michael H. Zaransky in 1993. The firm has received many honors and recognition for the quality of its properties and commitment to the community. PPI has received the Vintage Property of the Year Award from a major Apartment Association, multiple Good Neighbor Awards from Realtor Associations, and the Excellence in Housing Design Gold Key Award from the Home Builders Association. Due to Prime’s tremendous growth, the company was recognized by Inc. Magazine for placement on the Inc. 500 list of the fastest growing private companies in America.