HOUSTON—The city's multifamily market keeps bringingout-of-state investors and capital to the city, this time with NewYork-based Praedium Group's purchase of the infill community of TheEverly, a 387-unit class-A apartment complex situated between theEnergy Corridor and Galleria. The privately held firm purchased theasset from San Antonio-based Embrey Partners, Ltd., which wasrepresented by senior managing director Ryan Epstein, directorJennifer Ray and associate director Scott Bray of Berkadia'sHouston office.

"Houston's class-A infill communities have become increasinglyuncommon yet highly desired assets that offer long-term stabilityand value appreciation for several reasons," said Epstein. "Inaddition to a suite of modern amenities, the presence of a newlybuilt asset in a core location between Uptown/Galleria and theWestchase District provides compelling opportunities to leveragesurrounding employers and amenities, securing its viability anddemand especially when taking into account the lack of new supplywithin three miles."