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Houston-based Allied Orion Group is back in the apartment acquisitions business, starting with the purchase of the Alexan Ashford in the Energy Corridor.

The property, now known as Ashford Apartments, was purchased from Trammell Crow Residential in late February as part of a strategy to grow through acquisitions. The complex, at 1200 North Dairy Ashford just south of Interstate 10, was built in 2017. Terms were not disclosed…

The number of apartment units in Houston has grown by nearly 90 percent since 1990, with more than 300,000 units added in that time. Apartment occupancy of 89.8 percent compares with 87.6 percent in 1990, according to ApartmentData.com. The 312-unit Alexan Ashford is 92 percent occupied.

Publication: Midland Reporter-Telegram

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