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HOUSTON — ARA has arranged the sale of two multifamily properties, the 181-unit Capital Estates and the 151-unit Harbortree apartment communities, both located in Houston's Clear Lake submarket. David Wylie, Russell Jones, Zach Springer and Matt Saunders of ARA's Houston office represented the seller in the transaction. Houston-based Dakota Enterprises acquired the REO portfolio. Capital Estates is 78 percent occupied, while Harbortree is 73 percent occupied.