169-Unit Bay Vista sold in Corpus Christi169-Unit Bay Vista sold in Corpus Christihttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=81372013-02-25T06:52:00Z2013-02-22T00:00:00Z

CORPUS CHRISTI - Secondary markets in Texas are becoming positive targets for multifamily property investors, which was recently proved by the closing of two different properties in separate transactions.

The 169-unit Bay Vista Apartments, located at 522 Hancock Ave., traded at a price range between $16 million and $18 million. It was sold by Bay Vista Apartments I LP to Sage Properties Corp. The complex features one- and two-bedroom units with rents ranging from $965 to $2,115.

The 128-unit Avenue, located at 2900 Nederland Ave. in Nederland, sold for between $10 million and $11 million to Avenue Apartment Investors LLC, with Nederland Avenue Apartments Ltd being the seller.

Both assets were stable from a leasing standpoint and are of Class A quality, having been constructed within the last five years.

Read more at Globe St.

Corpus Christi
http://www.globest.com/news/12_545/southwest/multifamily/secondary-market-momentum-297-units-trade-hands-330305.htmlRead more at {Source}

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