$98 Million: Alliance Residential secures Med Center Apartments

The Archstone Tuscano apartments have been sold. Photo credit: Ralph Bivins

In Houston, An Alliance Residential partnership has purchased the 474-unit Archstone Toscano apartments in Houston for $98 million.

The apartments, 2900 N. Braeswood Blvd., are located near the Texas Medical Center at Brompton Road, just west of Kirby Drive. The project is on the north side of Brays Bayou.

The seller was AvalonBay Communities, a REIT based in Arlington, Va.