120-Unit Apartment Complex Trades Hands in Gulf Coast Region

Apartments-for-sale-victoria-texas-Point-RoyaleVICTORIA, TEXAS – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Point Royale Apartment Homes, a 120-unit apartment complex in Victoria, Texas. The terms of the sale were not released.

The James-Myers Multifamily Team in the Austin office of Marcus & Millichap, represented the seller, the property’s developer, and the buyer, a limited liability company.

“Point Royale is a stable, newly constructed asset in a strong secondary market in the heart of the Eagle Ford Shale, South Texas’ largest oil and gas development,” says James.

“The interest we are seeing for quality apartments in the region is extremely high due to the economic boom in the area,” adds Myers.

Built in 2012, the property is located at 4106 North John Stockbauer Drive in Victoria, Texas, which is approximately 30 miles from the Gulf of Mexico and within a two-hour drive of Austin, Corpus Christi, Houston and San Antonio. The apartment complex is near the Citizens Medical Center, the Caterpillar Hydraulic Excavator plant, Victoria College and the University of Houston–Victoria.

Apartments at Point Royale feature a one-, two- or three-bedroom floor plan with washer and dryer, electric appliances, nine-foot ceilings, walk-in closets, crown molding, large windows, private patios/balconies and garden tubs. All units are wired for high-speed Internet and cable television. Community amenities include gated entry, covered parking, on-site management, a swimming pool, fitness center, outdoor kitchen, resident clubhouse and business center.

For additional investment information, please contact:

Joe James | jjames@marcusmillichap.com | 512-338-7852

Kent Myers | kmyers@marcusmillichap.com | 512-338-7853

Follow us on Twitter @JamesMyersMF for the latest market news and activity.

The James-Myers Multifamily Team of Marcus & Millichap (NYSE: MMI) has 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.

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