The transaction involves the sale of a multifamily property known as Live at Memorial, which consists of 356 units located at 5004 Memorial Drive in Houston. The asset encompasses 3 acres and spans eight stories, having been completed in 2021. The property currently has a leasing rate of 97.5% and is backed by a significant financial loan from Invesco Real Estate amounting to $61.5 million.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: Not disclosed
• Units: 356
• Acres: 3
• Address: 5004 Memorial Drive
• Market: Houston
• Buyer: Brian Funk - MetLife Real Estate Investment
• Seller: Ken Valach - Trammell Crow Residential

This deal highlights the involvement of Brian Funk, representing MetLife Real Estate Investment, as well as Ken Valach, who acted on behalf of Trammell Crow Residential. These individuals played crucial roles in facilitating the acquisition of the property, further contributing to the growth of the multifamily market in Houston.