ARA Newmark Arranges Sale of Apartment Complex in Metro Houston

TOMBALL, TEXAS — ARA Newmark has arranged the sale of Alexan Creekside, a 380-unit, Class A apartment complex located in Tomball. Matthew Rotan and Adam Allen of ARA Newmark represented the sellers, Trammell Crow Residential and The Carlyle Group, in the transaction. David Marshall of ARA Newmark previously advised Trammell Crow Residential on the purchase of the land where the property now stands. Allen advised Trammell Crow on raising equity for the development. Los Angeles-based multifamily real estate management company Francis Property Management was selected as the buyer and purchased the property for an undisclosed price. Francis maintains a portfolio of apartment complexes located in Texas and California. Constructed in 2014, Alexan Creekside is located near The Woodlands’ 3,500-acre Creekside Park, which is the master-planned community’s newest village. Amenities include an electronically keyed unit and amenity access, USB charging stations, granite countertops, an upgraded unit finish package, a stainless steel appliance package, track and pendant lighting and under-cabinet kitchen lighting. Community amenities include swimming pools with an outdoor kitchen, cyber cafe, clubroom, resident lounge, coffee bar, complimentary Wi-Fi and a dog park.