Berkadia Arranges Sale of South Texas Community
- May 15, 2020
Berkadia has brokered the sale of Regency Square, a 240-unit garden-style property in Corpus Christi, Texas.
Managing Director Kelly Witherspoon and Director Justin Cole represented the seller, S&H Realty Management. 3CM Multifamily purchased the Class C asset that last traded in 1983, according to Yardi Matrix data, and intends to rename it Aventine Corpus Christi after completing a series of capital improvements.
Located at 3333 S. Alameda St. in the Bay Area submarket, the community consists of 23 buildings developed in 1973 on almost 10 acres, according to Yardi Matrix data. The unit mix features one- to three-bedroom floorplans ranging from 650 to 1,000 square feet. Amenities include a swimming pool with a sundeck, playground and more than 300 parking spaces.
The property is 5 miles south of the city center, between Corpus Christi Medical Center and Driscoll Children’s Hospital. Hamlin Center and Village Shopping Center are both less than a mile south of the community.