HOUSTON–Philadelphia-based Lubert-Adler Partners has sold Tiburon, a 320-unit class A apartment community in Houston, to a private buyer. ARA Real Estate Investment Services represented Lubert-Adler in the transaction.
“Our operating partner, CFLane, superbly executed our business plan at Tiburon,” Gerald Ronon, chief operating officer at Lubert-Adler, told GlobeSt.com.
On behalf of several of its clients, Lubert-Adler acquired Tiburon in 2011 from its original developer, UDR Inc., as part of a larger value-add multifamily investment strategy.
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