Skip Ribbon Commands
Skip to main content

News release

CORPUS CHRISTI, TX

JLL Capital Markets Sells South Texas Multifamily Asset

JLL completes sale of San Marin


Corpus Christi, Texas, August 19, 2016 – On behalf of Cottonwood Residential, JLL's Capital Markets experts today announced the firm completed the sale of San Marin Apartments in Corpus Christi, Texas. Castle Lanterra Properties has purchased the 220-unit, Class A multifamily property. 

Managing Director Scott LaMontagne, Senior Vice President Moses Siller and Senior Vice Presidents Zar Haro led the JLL team on the deal. 

"This was an excellent opportunity for an investor," said LaMontagne. "The property is in a tremendous location with terrific upside, providing desirable amenities and significant growth opportunity." 

The buyer intends to add interior upgrades to make the asset more competitive with the new constructions assets. 

San Marin is located minutes from downtown Corpus Christi and several major employers in Corpus Christi including Texas A&M-Corpus Christi, the Naval Air Station, and Port Corpus Christi – the sixth-largest US port.  

The 192,004 square-foot, garden-style apartment community consists of 10 three-story residential buildings across 9.5 acres with garages and carports. The complex features an on-site fitness center, sand volleyball court, dog park, and expansive swimming pool. The property is also conveniently located near several retail and entertainment centers. 

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2015 alone, JLL Capital Markets completed $140 billion in investment sale and debt and equity transactions globally. The firm's Capital Markets team comprises more than 2,000 specialists, operating all over the globe. 

For more news, please visit The Investor, an online and mobile app news source providing real-time commercial real estate news to asset buyers and sellers around the world.

For more news, videos and research resources on JLL, please visit the firm's U.S. media center Web page: http://bit.ly/18P2tkv.

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6.0 billion, JLL has more than 280 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $59.1 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.