HOUSTON (O’Connor & Associates) – Bel Estates I LLC, an entity of Eaton Vance Management, has purchased the Estates at Memorial Heights, a 437-unit multifamily complex in the Montrose/Memorial Heights submarket.

Located at 616 Memorial Heights Dr., the 11-year-old Class-A property is 98 percent occupied. Rents average $1.53 per sf.

Keycorp Real Estate Capital Markets Inc. provided $49.9 million in financing.