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224-Unit MF Sells in Value-Add Play
Raybec Alameda LLC struck a deal with F1S Sunchase Associates LLC for the 224-unit Sunchase Apartments at 5445 S. Alameda St. in Corpus Christi, TX. The buyer nabbed the property for value-add purposes, and plans an upgrade to the property.
JLL’s Scott LaMontagne, Moses Siller and Zar Haro represented the Houston-based seller. The sales price was undisclosed, with public records valuing the asset at $8.3 million.
The property is situated on 9.3 acres, and is close to downtown Corpus Christi. Onsite amenities include a swimming pool, fitness center and laundry facility. “With the right strategic additions, this property will be in great shape for long-term stability, future rent growth and continued value appreciation, making this an exceptional investment for years to come,” Haro said.
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