Brixton Capital Purchases Sawgrass Apartments in Corpus Christi, Texas

Brixton Capital Purchases Sawgrass Apartments in Corpus Christi, Texas

Brixton Capital purchased the 216-unit Sawgrass Apartments, located at 6301 Meadowvista Drive in Corpus Christi, Texas, for an undisclosed price. Sawgrass, purchased from Kahn Sawgrass, LP, marks Brixton’s second acquisition of 2018.

Built in 1985, Sawgrass Apartments is a two- and three-story, garden style apartment community totaling approximately 163,000 square feet. The property offers tenants a wide range of amenities, including a pool, playground, fitness center, outdoor BBQ stations, tennis court and ample nearby shopping. Brixton plans to execute interior renovations on select units to further improve tenants’ quality of life.

According to Bob Emri, Chief Investment Officer of Brixton Capital, “Sawgrass Apartments is an excellent addition to Brixton’s workforce housing portfolio due to its strong fundamentals and market potential. 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.”

The transaction was represented by Justin Cole at Berkadia. United Apartment Group, headquartered in San Antonio, will manage the property.

Brixton Capital is a preeminent private real estate investment firm that seeks to generate outstanding, risk-adjusted returns by unlocking embedded value in commercial real estate transactions spanning all property types. Headquartered in Solana Beach, California, Brixton is led by a team of seasoned commercial real estate experts with an average of more than 25 years of experience.

Brixton currently owns and operates a portfolio valued in excess of $1 billion, representing over 10 million square feet of retail, multi-family, office, industrial and land investments across the United States and Europe. In 2017, Brixton Capital was ranked as one of the Top 50 Owners by Commercial Property Executive.