In the First Quarter of 2013, Bridge Partners acquired The Reserve at Saratoga, a 274-unit resort-style apartment community in Corpus Christi, Texas. In addition to high-end interiors, the 2006 constructed property offers a comprehensive and luxurious amenity package including: a 24-hour fitness center, swimming pool, indoor basketball court, business center, coffee bar, controlled access gates and attached garages.
The Reserve at Saratoga is positioned at the heart of the South Side region of Corpus Christi on Saratoga Boulevard, which receives traffic counts of over 20,000 vehicles per day. The property is well-located directly across the street from the Christus Spohn Regional Health System Campus, one of Corpus Christi’s largest employers supplying over 5,500 jobs. Overall, the Corpus Christi economy has experienced rapid growth in recent years related, in part, to its proximity to the Eagle Ford Shale and its expanding port operations.
The financing of The Reserve at Saratoga was executed through a Freddie Mac Loan assumption, a process which was expedited by Bridge Partners’ perfect borrowing record. In its 22 year history, Bridge Partners has zero credit defaults in all of its lending channels including: Fannie Mae, Freddie Mac, HUD, CMBS, along with various balance sheet and unsecured capital products.
Founded in 1990, Bridge Partners specializes in the acquisition, renovation, and management of multifamily and hospitality properties nationwide. In its history, Bridge Partners has completed over 200 transactions across 17 states and 50 domestic markets. Its existing portfolio features 7,000 units across 13 states.