Built in 2004 at 2380 S. MacGregor Way, the MacGregor received 25 offers during a six-month run on the market, David Mitchell, a vice president with Apartment Realty Advisors' local office, tells GlobeSt.com. The main attraction was a location right in the middle of the Texas Medical Center, he says, adding the MacGregor benefits from the strong barriers to entry where land not only is in short supply, but is fetching prices of $140 per sf. Mitchell and Matthew Rotan brokered the transaction.

The 218,401-sf MacGregor is a lone four-story building positioned atop two levels of parking on 2.7 acres. The brick-and-stucco complex is assessed at $18.3 million by Harris County Appraisal District. There are 138 one-bedroom units, ranging from 670 sf to 1,077 sf; 78 two-bedroom apartments with 1,177 sf to 1,363 sf; and eight 1,425-sf, three-bedroom designs. Rents range from $875 to $1,850 per month.

Mitchell says the property recently reached stabilization, but was barely 70% occupied when it was first placed on the market. It now pushing 93% occupancy.