HOUSTON, TX-HFF has facilitated thesale of the Old Farm, a 734-unit, Class Amulti-housing community, to a CBRE fund. HFFrepresented the seller, a client of L&B RealtyAdvisors.

CBRE Global Investors purchased the property onbehalf of the CBRE Strategic Partners Value 6 Fundfor an undisclosed amount free and clear of debt.
Old Farm is located at 2500 Old Farm Road near theintersection of Westheimer Road and SouthVoss Road, less than three miles west of theHouston Galleria. Situated on approximately27.92 acres, the property consists of one-, two-and three-bedroom units averaging 950 square feeteach. Community amenities include two state-of-the-art fitnesscenters, two resort-style swimming pools, grilling areas,tranquility room, business center and clubrooms. The property is96.2% leased.
The HFF investment sales team representing the seller was led bysenior managing directors Todd Marix, CraigLaFollette and Todd Stewart, along withdirectors Tre Banks and ChrisCurry.

L&B Realty Advisors is an employee-owned,SEC-registered real estate investment advisor. Since 1965,L&B has provided real estate investment management services toinstitutional investors and family offices. With $5.9 billionunder management and 46 years of experience, L&B has a proventrack record of successfully acquiring, managing and disposing realestate on behalf of its clients.
CBRE Global Investors is a global real estateinvestment management firm with $88.2 billion in assets undermanagement as of June 30. The firm sponsors investmentprograms across the risk/return spectrum for investors worldwide. CBRE Global Investors is an independently operated affiliateof CBRE Group, Inc.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFFSecurities L.P.) are owned by HFF, Inc. HFF operates out of21 offices nationwide and is a leading provider of commercial realestate and capital markets services to the U.S. commercial realestate industry.

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David Phillips

David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.