Newly Constructed 120-Unit Asset Provides Stable Investment in Victoria, Texas
Attractive Victoria Community: Point Royale is a newly constructed 120-unit community located in Victoria, Texas. Completed in 2012, these class A garden apartments are comprised of three unique floor plans providing potential residents with a choice of one, two and three bedrooms. Units feature washers and dryers, electric appliances, 9-foot ceilings, walk-in closets, crown molding, large windows, private patios and balconies, and garden tubs. Community amenities include a luxury swimming pool, state of the art fitness center, outdoor kitchen, resident clubhouse, business center, gated entry, covered parking, onsite management, and units are wired for high speed internet and cable.
Thriving Texas Secondary Market: The city of Victoria is considered a regional hub of Texas’ “Golden Crescent,” an area comprised of seven counties serving a retail trade area of over 250,000 people, and known as the “South Texas Crossroads” because of its location at the intersection of three major U.S. highways connecting Victoria to Houston, Corpus Christi, San Antonio, Austin, and Laredo. The Victoria Metropolitan Statistical Area (MSA), which also includes Calhoun and Goliad Counties, lies between Houston and Corpus Christi. The city’s economy is mix of education, health, retail, agriculture and industry, and is known for its strength in the oil and gas sector. The major employers in the region include Formosa Plastic, Caterpillar Industries, Inteplast Group, Dow, Invista, and Alcoa. The city has sustained a healthy environment for business due to its access to major highways, a regional airport, railway terminals, and large ports. The Eagle Ford Shale, an oil and gas producing shale play spanning 30 counties in South Texas and projected to support nearly 70,000 jobs by 2020, is partly supported by the city of Victoria’s port access. Victoria will continue to play an important role in the development of the shale play.
The University of Houston-Victoria (UHV) was founded in 1971 and specializes in the Arts & Sciences, Business Administration, Education & Human Development, and Nursing. With a current enrollment of over 4,400 students, the University has experienced an enrollment increase of 58% over the past five years. While previously an upper-division and graduate school institution, UHV expanded in fall 2010 to admit freshman and sophomores. The expansion is projected to infuse $2.8 billion into the city’s economy. The 20-acre institution is located within 3.1 miles of Point Royale and easily accessible by a seven-minute commute.
Stable Investment Opportunity: The Point Royale community provides a stable investment opportunity located in a strong secondary Texas market near area retailers and major employers, as well as the Citizens Medical Center, the Caterpillar Plant, Victoria College, and the University of Houston-Victoria.
To view the complete Offering Memorandum, please submit the Point Royale Confidentiality Agreement.
For additional information, please contact:
Joe James | firstname.lastname@example.org | 512-338-7852
Kent Myers | email@example.com | 512-338-7853
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The James-Myers Multifamily Team of Marcus & Millichap participated in the sale of more than 63 transactions since 2007 totaling over 13,000 units and more than $730 Million in sales across Texas. Contact us for acquisitions, dispositions, property evaluations or market information for your Texas apartments.