November 1, 2019
Trammell Crow Residential and Cigna Investment Management ended their hold on the Alexan Enclave, a 354-unit, Class A apartment complex in the Energy Corridor on Houston’s west side. F&B Capital acquired the property for an undisclosed amount.
JLL’s Todd Marix, Chris Curry and Bailey Crowell led the team representing the seller. Cameron Cureton and Matt Kafka, also with JLL, secured debt financing for the new owner.
“Alexan Enclave offers excellent long-term growth potential for new ownership,” Curry said. “The buyer was able to obtain a best-in-class, non-commodity asset below replacement cost in a strengthening Energy Corridor submarket, which currently has no new multi-housing units under construction.
The five-year-old property is at 13411 Briar Forest Dr., and offers a mix of one and two-bedroom units. Amenities include a resort style pool with fountain feature, separate lap pool, covered outdoor kitchen, dog park and pet-wash station and electric car charging station.
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