Apartments sell on Texas coast

Vacancy rate in single-digit territory

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Tenant-in-common investors this week bought a 284-unit multifamily community in Corpus Christi, Texas, for an undisclosed price. The purchase, which closed Tuesday, involves Harbour Landing located on South Padre Island Drive. Situated on nearly 12 acres, the property consists of 22 apartment buildings and a clubhouse totaling approximately 193,000 square feet. Community amenities include a fitness center, tennis court, basketball court, business center, and two swimming pools complete with a wading pool and heated spa. WLA Investments sold the property, which was 96 percent leased and approximately 92 percent occupied at the time of sale. ...