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2 Corpus Christ rental communities acquired by RREAF

RREAF Holdings Closes on Two Corpus Christi Rental Communities

RREAF partnered with 3650 REIT and DLP Capital to acquire the group’s second portfolio in less than 12 months. 3650 REIT made a $31 million preferred equity investment in the two projects of the latest portfolio.

The deal involved two properties in Corpus Christi. One is a 155-unit build-to-rent community built in 2004. Windy Shores at Aransas Pass features a pool, fitness center, basketball court, running track and tennis court. The second project, Pearl Point, is a 216-unit garden-style multifamily property built in 2020. Its amenities include a pool, fitness center and business center.

3650 REIT’s Jonathan Roth said, “3650 is pleased to help finance the acquisitions of these two properties. The build-to-rent sector in particular has exhibited continued rent growth, while the fundamentals of the multifamily sector remain strong, even in today’s challenging and uncertain market environment.” RREAF plans to renovate units and common areas at both properties.


Inside The Story

Jonathon Roth

About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

  • 110 Highwater Ln

    New Braunfels, TXTexas + Apartments
    Listing Status:Unavailable
    Listing Type:Call for offers
    Year Built:2010
    Opportunity Zone:No
    Learn More
  • Shadow Park Apartment Homes

    Lake Jackson, TXTexas + Apartments
    Listing Status:Available
    Listing Type:Highest & best offer
    No. of Units:168
    Cap Rate:5.99
    Average Occupancy:86
    Year Built:1980
    Building Size:119880 Sq ft
    Lot Size:6.14 Acres
    No. of Stories:2
    APN:2115-0126-000, 2115-0009-000
    Zoning Code:2/27/17 CJC
    Opportunity Zone:No
    Price per unit:$76,190
    Learn More
  • ◦Sale/Acquisition
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