HOUSTON-A joint venture between Charleston, South Carolina-based Greystar Real Estate Partners LLC and New York-based Carlyle Group has purchased a 6-acre vacant tract in the Galleria area from the Houston Independent School District with plans to construct a mid-rise apartment complex there. Greystar will build a four-story apartment complex on the vacant site at the southeast corner of Richmond and Barrington.
The project, to be called Elan at Avenue R, will contain 394 units. The purchase price of the plot was $9.7 million. For the full story, go to Houston Business Journal .
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