HOUSTON-Behringer Harvard Multifamily REIT I Inc. has acquired Uptown Post Oak, a 392-unit apartment community in Uptown, for $65.5 million. The purchase price was disclosed in the Dallas-based REIT’s prospectus, but the seller was not disclosed. However, sources say Behringer bought the mid-rise property from Trammell Crow Residential.

Situated on 4.4 acres at 1111 Post Oak Blvd., the property was formerly named Alexan Post Oak. It is located eight miles west of Houston’s central business district on Post Oak Boulevard, which is the hub of Houston’s second largest office submarket.

Uptown Post Oak is surrounded by River Oaks and Tanglewood, two of the most exclusive residential neighborhoods in the city. The affluent submarket boasts a high concentration of young, well-educated professionals.