Allied Orion Group has sold The Beacon at Buffalo Pointe, a 281-unit, Class A community in Houston. JLL represented the seller and also procured the buyer, Morgan Group Inc.
Located at 10301 Buffalo Speedway on 32.4 acres, the property is within 3 miles of the Texas Medical Center and provides easy access to Interstate 610. William P. Hobby Airport is 10 miles away. The surrounding area has several retail options, including Shops At 3 Corners, roughly 2 miles of The Beacon.
Completed in 2017, the two-building property features one-, two- and three-bedroom units averaging 862 square feet. Common-area amenities include a pool, an outdoor grill, a fitness center, a dog park, electric car charging station and 484 parking spaces. According to Yardi Matrix data, The Beacon was 90.7 percent occupied as of December 2019.
Senior Managing Directors Chris Curry and Todd Marix, together with Analyst Bailey Crowell, were part of the JLL team that closed the sale. In October, the Crowell represented the seller of a 144-unit workforce housing project in Southwest Houston’s Bellaire submarket.