Brixton Capital based in Solana Beach has acquired a Corpus Christi, Texas apartment complex for an undisclosed price.
The firm purchased the 216-unit Sawgrass Apartments at 6301 Meadowvista Drive from Kahn Sawgrass, LP.
Built in 1985, the two-building complex has a total of about 163,000 square feet with apartments that range in size from 647 square feet to 1,013 square feet with an average of about 755 square feet.
Brixton Capital plans to renovate the apartment interiors.
“Sawgrass Apartments is an excellent addition to Brixton’s workforce housing portfolio due to its strong fundamentals and market potential,” said Bob Emri, chief investment officer of Brixton Capital.
“We are increasingly bullish on the Corpus Christi market, as there continues to be an influx of investment in the area’s infrastructure and economic growth,” Emir said.
Justin Cole of Berkadia represented Kahn Sawgrass in the transaction. Brixton Capital represented itself.
United Apartment Group, headquartered in San Antonio, will manage the apartments.