Hawk’s Landing Apartments is a 102-unit apartment community located in Kingsville, TX, a thriving South Texas city situated along the Coastal Bend. Built in 1997 as part of the Military Housing Privatization Initiative (MHPI), the Property encompasses twenty-three (23) two-story residential buildings spread across just over 15.8 acres providing a low density setting with approximately 6.5 units per acre. With two and three-bedroom floor plan options averaging an incredibly large 1,102 square feet, Hawk’s Landing offers individuals and families alike a spacious townhome-style living environment with unmatched amenities relative to its competitive set. Hawk’s Landing presents an investor the opportunity to acquire a well-maintained, historically stable Class A asset with strong in-place yields at an extremely attractive basis well-below replacement cost.
Hawk’s Landing is in Kingsville, home of the historic King Ranch, approximately 160 miles south/southeast of San Antonio. Kingsville is the county seat of Kleberg County and the principal city of the Kingsville Micropolitan Statistical Area, which is part of the larger Corpus Christi MSA. Kingsville’s location places it strategically in the hub of Maquiladora operations, midway between San Antonio and the Rio Grande Valley. Additionally, the city is equidistant to Laredo and Brownsville, the major ports of entry along the US-Mexico border. U.S. Highway 77, which runs north-south through the city, provides convenient access to Corpus Christi to the northeast and the Rio Grande Valley to the south. Notably, the state of Texas has allocated $104 million for
U.S. Highway 77 (U.S. 77) improvements just north of Kingsville, which is part of a larger $1.1 billion project that extends along U.S. 77 from Interstate 37 in Corpus Christi to U.S. 83 in Harlingen. The state started accepting bids for this project in the summer of 2018, with the completion date slated for September 2021.
The Property is situated 1.3 miles from the entrance of the Naval Air Station Kingsville, one of the U.S. Navy’s premier locations for jet aviation training, and 1.4 miles from Christus Spohn Hospital Kleberg, a complete medical and surgical services acute care facility. Hawk’s Landing also provides quick access to Texas A&M University-Kingsville, H.M. King High School and national retailers such as Walmart, Lowes, Walgreens, and CVS, among others. The property’s proximity to such a large concentration of military, health care, educational facilities and retail is not only attractive to current and potential residents but provides a significant employment base that will continue to drive demand for multifamily housing for the area.
Located along in the Coastal Bend region of South Texas, the Kingsville, Texas Micropolitan Statistical Area is comprised of Kleberg and Kenedy counties. Known for its southern charm and Texas hospitality, this multicultural region accredits its longevity to the wide array of local attractions including the world-famous King Ranch, numerous historical sites, Texas A&M University - Kingsville (TAMUK), and Naval Air Station Kingsville (NAS Kingsville).
TAMUK and NAS Kingsville are the micro area’s largest employers, supporting 3,750 jobs and generating an annual economic impact of more than $1.1 billion combined. In addition, Celanese Corporation, a Fortune 500 technology and specialty materials company, employs 650 in Kingsville.
Kleberg County is relatively union-free, offering various business incentives and job training programs, such as the Smart Jobs Fund, to develop its workforce. A cluster of small communities along the Texas Gulf Coast strengthen Kingsville’s labor force, which has an outstanding record for high productivity and low turnover rate.
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