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HOUSTON — Atlanta-based Apartment Realty Advisors (ARA) has negotiated the sale of an improved 5.18-acre site located in Houston. The parcel, which fronts North MacGregor Way and Sampson Street, was previously intended for multifamily development, but, as a result of hurricane damage it sustained in 2008, the seller decided to re-market the property as a land parcel with a prime location near Texas Medical Center. Tim Dosch and David Marshall of ARA represented the seller, New York City-based GFI Capital Resources Group. The buyer, a locally based nonprofit organization, has not announced its future plans for the site.