Cross Equities Acquires 342-Unit Buccaneer Apartments In Corpus Christi From Fuso Investment

Buccaneer Apartments, a 342-unit multifamily property located at 100 Buccaneer Drive in Corpus Christi, Texas, has been sold in a recent transaction. The property sits on 29 acres and offers one- and two-bedroom apartments as well as two-bedroom townhouses. It features amenities such as air conditioning, ceiling fans, and covered parking. The sale was facilitated by Fuso Investment Inc., with the buyer being Buccaneer Redevelopment LLC, which is affiliated with Dallas-based Cross Equities. The acquisition was made possible through a $14.7 million acquisition loan provided by American Bank of Commerce.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $14.7 million
• Units: 342
• Acres: 29
• Buyer: Tim Gillean - Cross Equities
• Seller: Fuso Investment Inc
• Lender: American Bank of Commerce

The sale of Buccaneer Apartments represents a significant transaction in the Corpus Christi market. The involvement of Cross Equities, a Dallas-based company, highlights the interest of outside investors in the area's multifamily properties. Additionally, with the support of American Bank of Commerce, the buyer was able to secure the necessary acquisition loan for the transaction.