CORPUS CHRISTI, TX-A partnership from Newport Beach, CA, actively seeking assets throughout Texas, has acquired 682 units from a local seller for $29.9 million. The portfolio of three complexes was 93% occupied at sale time.

A source familiar with the deal tells that the ownership line involved three single-asset entities for the Kingston Port Apartments at 6162 Misty Meadow Rd., Yardarm Apartments at 10660 Leopard St. and the Shores at 1515 Ennis Joslin Rd.

The 176-unit Kingston Port Apartments was built in two phases, 1983 and 1984, on the city’s southern edge. Situated on seven acres, the 12-building complex has one, two and three-bedroom apartments, ranging from 534 sf to 1,140 sf. Rents go from $550 to $995 per month.

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