Carmel Manor apartments, 1001 Carmel Parkway, Corpus Christi, TX
CORPUS CHRISTI, TX, June 3, 2013 – Marcus & Millichap
Real Estate Investment Services, the nation’s largest real estate investment
services firm, has arranged the sale of five multifamily properties in Corpus
Christi totaling 836 units.
 |
| Joe James |
The sale completes the disposition of an 11-property,
1,773-unit Corpus Christi apartment portfolio. The other six assets in the
portfolio were sold previously to multiple buyers. The terms of the sales were not disclosed. The five properties
are:
Ø · Briarcroft and Sky Harbor Apartments,
299 units
Ø · Carmel Manor Apartments, 74 units
Ø · Churchill Square Apartments, 107
units
Ø · Fairway Apartments, 149 units
Ø · Harper’s Corner, 207 units
Joe James and Kent Myers,
senior associates, and J. Patrick Burke, an associate, all in the Austin
office of Marcus & Millichap, represented the seller, a private individual.
The buyer is a Texas-based limited partnership.
 |
| Kent Myers |
Briarcroft and Sky Harbor Apartments were constructed in
1971 and 1973 on approximately 23.3 acres at 7218 South Padre Island Drive.
Texas A&M University-Corpus Christi, the Corpus Christi Medical Center, Del
Mar College and major shopping centers are nearby. The property was 95 percent
occupied at the time of the sale.
Carmel Manor Apartments is located at 1001 Carmel Parkway,
near the intersection of two major thoroughfares, Staples Street and Everhart
Road. Built in in 1964, the 72,549-square foot property was fully occupied at
close. All units feature updated kitchen appliances and spacious floor plans
with walk-in closets.
Churchill Square Apartments was constructed in 1987 on
approximately 5.6 acres at 302 Western Drive with frontage on Leopard Street,
the main business corridor through two of Corpus Christi’s northwest suburbs,
Calallen and Annaville. All units have washer and dryer connections and
fireplaces. The property was 100 percent occupied at the time of the sale.
 |
| J. Patrick Burke |
Fairway Apartments was built in 1969 on 5.5 acres at 6440
Everhart Road. Units feature ceiling fans, washer/dryer connections and large
kitchen pantries. Community amenities include a swimming pool, fitness room,
free assigned garage parking and on-site laundry. The complex was 94 percent
occupied at close.
Harper’s Corner was constructed in 1975 at 6602 Everhart
Road. Community amenities include two swimming pools, a fitness room, outdoor
basketball and tennis courts and three laundry facilities. Harper’s Corner was 95 percent occupied at
the time of the sale.
For a complete copy
of the company’s news release, please contact:
Ben Johnson
Marketing Director
(925) 953-1736
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