(To read more on the multifamily market, click here.)

PEARLAND, TX-In its second go-around on the market, the 240-unitEnclave at Mary's Creek has found a buyer. Sources speculate SMCManagement Corp. of Boston has snagged the 97%-occupied, class Acomplex for $15 million to $18 million.

The Enclave at Mary's Creek, assessed at $10.1 million, wasinitially marketed in early 2005 as part of a $140.1-million,19-property portfolio owned by former Houston Mayor Bob Lanier."Out of that portfolio, 15 of those properties sold, four of themdidn't, and this was one of the remaining four," Todd Stewart,senior vice president of CB Richard Ellis in Houston, tellsGlobeSt.com about the 13-acre holding at 2900 Pearland Parkway. Forthe time being, Lanier is holding onto the unsold trio. The CBREsales team included executive vice president Craig LaFollette,senior vice president Todd Marix and senior associate TreBanks.