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MULTIFAMILY NEWS
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Investor Buys 233-Unit TX Multifamily Asset

5/06/15

Glen Willows Apartments, a 233-unit apartment complex in Corpus Christi, TX, was purchased by an unnamed limited liability investor. The price was not disclosed.

Built in 1973 on 10.3 acres, Glen Willows Apartments is located at 5802 Everhart Rd in Corpus Christi, within walking distance of an elementary school and minutes from two shopping malls, Sunrise Mall and La Palmera.

The apartment community’s floor plans include 32 one-bedroom, 128 two-bedroom and 47 three-bedroom single-level units, along with 26 two-bedroom/one-and-one-half-bath townhomes. The units feature central air conditioning, all-electric kitchens, spacious closets, patios and second-floor balconies. Community amenities include controlled access gates, two on-site laundry rooms, two swimming pools, and a playground.

Zar Haro, associate vice president investments in Marcus & Millichap’s San Antonio office, and Mike Moffitt Jr., senior associate in the firm’s Austin office, represented the seller, a limited partnership.

“Glen Willows is a stabilized apartment community in an area that is experiencing strong economic growth,” says Haro. “The property provides the new owner with value enhancement opportunities through the implementation of a utilities billing system and the continuation of the interior renovation program.”





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