JLL closes sale of Houston apartment community

Class A+ property near the Texas Medical Center acquired by Morgan Group, Inc.

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Beacon at Buffalo Pointe
JLL Capital Markets closed the sale of The Beacon at Buffalo Pointe, a recently completed, 281-unit, Class A+ apartment community in Houston.

JLL Capital Markets announced today that it has closed the sale of The Beacon at Buffalo Pointe, a recently completed, 281-unit, Class A+ apartment community near the Texas Medical Center.

JLL marketed the property exclusively on behalf of the seller, Allied Orion Group, and procured the buyer, Morgan Group, Inc.

The Beacon at Buffalo Pointe is situated on 32.4 acres at 10301 Buffalo Speedway within five minutes of METRORail’s Red Line and 10 minutes from the Texas Medical Center, which is the worlds’ largest medical complex and the 8th largest central business district in the U.S. Completed in 2017, the four-story, mid-rise property consists of one-, two- and three-bedroom units averaging 862 square feet and 484 parking spaces. The best-in-class community includes high-end finishes in all homes and numerous common area amenities, including a resort-style pool with fountain, in-pool seating, a sundeck and four poolside cabanas; outdoor grilling area; state-of-the-art fitness center; clubroom with demonstration kitchen and coffee bar; dog park with wash station and water fountain; electric car charging station; reserved garage parking available; and concierge service.

The JLL Capital Markets team representing the seller was led by Senior Managing Directors Chris Curry and Todd Marix and Analyst Bailey Crowell.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients—whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

Deal secured by Holliday GP Corp. (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.