For Sale I The Park Apartments

Executive Summary

Colliers is pleased to present the opportunity to acquire The Park Apartments, a 226-unit value-add multifamily community located in the thriving coastal city of Corpus Christi, Texas. 

The Park Apartments offers investors a rare chance to acquire a well-located, value-add asset in one of South Texas’ most stable and growing rental markets. Situated near major employment hubs, educational institutions, and retail centers, the property is ideally positioned to benefit from the city’s continued economic and population growth. With all the units in classic condition, The Park Apartments is primed for a strategic interior renovation program that can generate meaningful rent increases and enhance the property’s competitive standing.

Backed by strong regional fundamentals, including a robust employment base, ongoing in-migration, and limited new multifamily supply—The Park Apartments presents a compelling opportunity for investors to realize outsized returns through targeted capital improvements, operational efficiencies, and strategic rebranding in the heart of Corpus Christi.

SALE PROCESS – SUBJECT TO BANKRUPTCY COURT APPROVAL

All offers will be negotiated, and the seller may consider multiple competing proposals. The process is subject in all respects to approval by the Bankruptcy Court. The preference is for offers to be non-contingent and for prospective buyers to have completed all due diligence and secured any necessary financing prior to submitting an offer to the Court.

Investment Highlights

Compelling Value-Add Opportunity with Upside in Interior Renovations
The Park Apartments presents significant upside potential through a focused value-add strategy as all units are in classic condition. New ownership can implement interior upgrades to push rents in line with renovated comps in the surrounding submarket, boosting both income and asset value.

Tight Rental Market with Solid Occupancy Trends
The Corpus Christi multifamily market continues to experience strong occupancy rates and limited new supply, creating a favorable environment for rent growth.​​​​​​​

Strategic Location Near Major Employers and Coastal Demand Drivers
The Park Apartments benefits from proximity to major employment centers, including the Port of Corpus Christi, Naval Air Station, and refineries—all key economic anchors that support strong year-round rental demand.