HOUSTON-New York-based DRA Advisors LLC and Memphis-based Fogelman Venture Partners have recently purchased two apartment complexes in Houston. The joint venture bought Gramercy Park Apartments, a 384-unit complex, and The Villages of Briar Forest, a 240-unit community, for an undisclosed price.
Gramercy Park Apartments and Villages of Briar Forest comprise one-, two- and three-bedroom units and they were constructed in 1998 and 1999, respectively. The two multifamily properties will be managed by Fogelman Management Group. For the full story, go to Memphis Business Journal .
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