Mid-America Buys 352-Unit Alexan Heights from TCR

Mid-America Apartment Communities Inc. (MAA) now owns Houston’s 352-unit Alexan Heights, in a deal that is said to have been worth $70 million. Trammell Crow Residential was the developer – and the seller. The current transaction represents Mid-America’s first urban apartment deal.

HFF’s Chris Curry, Todd Stewart, Todd Marix, J.C. Clemens Jr., and Matt Kafka brokered the transaction on behalf of the seller.

The property at 655 Yale St., was TCR’s second apartment development in a neighborhood known as the Houston Heights. Since then, the developer has gone north on Alexan Yale Street, across the street from Alexan Heights. TCR’s first Heights-built apartment, was bought by Camden Property Trust.

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