(To read more on the multifamily market, click here.)
HOUSTON-A former executive with Apartment Investment andManagement Co. makes his first mark in the area, acquiring the476-unit Trails at Briar Forest. The buyer has snagged the class Bcomplex from Equity Residential of Chicago.
Although the purchase price is being kept quiet, industryexperts estimate Patrick Slavin of Denver-based Slavin MultifamilyAdvisors LLC has most likely paid more than $25 million for the93%-leased complex at 12951 Briar Forest Dr. The Energy Corridorasset was listed at $33.5 million.
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