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HOUSTON — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Trails at Lake Houston, a 304-unit apartment community located near Lake Houston on the city’s northeast side. Built on 13 acres in 2017, the property features one- and two-bedroom units and amenities such as a pool, fitness center, business center, clubhouse, outdoor grilling areas, a game room and walking and biking trails. Will Balthrope, Drew Kile, Jennifer Campbell and William Griffin of IPA represented the seller, Dallas-based investment firm The ValCap Group, in the transaction. The team also procured the buyer, New Jersey-based Raamco International.