Sandcastle Apartments - Corpus Christi Rehab/Repositioning
HPA professionally managed and rehabilitated the Sandcastle Apartments, Corpus Christi, Texas, a 426 unit garden apartment community. The rehabilitation costs of $500,000. resulted in an increase in annual Net Operating Income of $285,000. and an increase in value of $3,000,000. which was realized through a sale of the property.This project was the subject of Harry Hallows Long Range Management Plan to complete his requirements for the Certified Property Managers designation. The study earned a grade of "Pass Superior" from the Institute of Real Estate Management.