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Lennar Multifamily Communities has purchased 9.2 acres off the Grand Parkway in Katy from Medistar Corp. The property is inside the ParkWest Business Park, a 150-acre tract across I-10 from Katy Mills Mall. Berkadia’s Greg Austin repped Lennar while Medistar was repped by David Cook of Cushman & Wakefield, reports the Houston Business Journal. The deal increases Lennar’s portfolio in the area as it purchased land last year at the northeast corner of Fondren and Westheimer roads with plans to build a 338-unit community. Medistar has several projects on tap in ParkWest, including the 450k SF retail development the Shoppes at ParkWest in partnership with The Retail Connection of Dallas. [HBJ]
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