(Read more on the multifamily market.)
CORPUS CHRISTI, TX-Marking its third buy in the city, NNNApartment REIT Inc. has closed on the$33.25-million acquisition of the 350-unit Baypoint ResortApartments. And, it could signal the end of the push.
"We like Corpus as a market and we have purchased three assetsthere. That may be our saturation point," says Jay Olander, CEO andmanaging director of NNN Apartment REIT. "We're bullish on Texas ingeneral and we like Corpus as part of the strategy." Since June,the Santa Ana, CA-based Triple Net affiliate has acquired 854 unitsaround town, two of which are side by side and the third is 12miles southwest.
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