September 3, 2019
ClearWorth Capital LLC closed on the acquisition of The Palm on South Padre, a 299-unit multifamily asset in Corpus Christi, TX. The Houston buyer shook hands with a seller identified as Comcapp Sky Harbor LLC of New Braunfels, TX.
The property delivered in 1973, and is situated on 10.7 acres at 7218 S. Padre Island Dr. The seller ended a more than six-year hold with the disposition. The new owner, in the meantime, is planning an extensive renovation of the property, including new social areas and common spaces, full upgrades of interior units, new signage and landscaping and exterior paint scheme. NOI Property Management will handle management and leasing.
The Palm on South Padre offers one, two and three-bedroom units, ranging from 520 to 1,200 square feet. Amenities include two pools, a clubhouse, package receiving services, courtyard and barbecue/picnic area.
For comments, questions or concerns, please contact Amy Sorter