HOUSTON (Sept. 11, 2018) – 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.