Big Corpus Christi multifamily deal

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Tenant-in-common investors recently acquired a 220-unit multifamily complex in Corpus Christi, Texas, for an undisclosed price. The San Marin Apartments, sold by Parkwood Management, is located on 9.5 acres. Built in 1998, the property is comprised of 10 three-story apartment buildings totaling approximately 192,000 square feet, with an average unit size of 873 square feet. Property amenities include a swimming pool, sand volleyball court, barbeque/picnic areas, playground and fitness center. At 445 parking spaces, there are more than two spaces per unit, including 60 attached garages. Occupancy at the time of sale was not disclosed. ...