HOUSTON (Grandbridge) – A new local apartment community is under development, while another has just changed owners.

Locally based M-M Properties is developing the 193-unit Hermann Park Plaza Apartment Community in the Texas Medical Center/Museum District area.

Mosaic Residential Inc., also locally based, acquired the 157-unit Tivoli Apartment Community near SH 249 and Louetta.

Grandbridge Real Estate Capital LLC arranged debt for two multifamily communities.