Juniper Investment Group of Houston bought the holding, whichwas listed for slightly less than $6.9 million. The CB RichardEllis Inc. team in Houston of G. Craig LaFollette, and J. ToddStewart, both senior vice presidents, and Todd Marix, first vicepresident represented the Chicago-based seller and sourced thebuyer.

Marix tells that the property took about nine monthsto sell because a not-for-profit buyer had it under contract twiceand then it fell out. He said the difficulties of such atransaction ultimately killed the deal. The sale closed in 60 daysonce a conventional buyer came forward. According to the HarrisCounty Appraisal District, the 24-year-old apartment complex's 2002assessment is close to $5 million.

The 90%-occupied Williamstown has an average unit size of 755sf. Rent runs a little more than 65 cents per sf or about $500 permonth.

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