COSTA MESA, CALIF. — CBRE has arranged the sale of a six-unit property located at 2666 Orange Ave. in the Eastside neighborhood of Costa Mesa. The asset traded hands for $3.2 million. The community was built in phases in 1954, 1956 and 1965. The property comprises five buildings totaling 4,500 square feet on a 0.4-acre lot. The unit mix includes three detached two-bedroom bungalows, a pair of two-bedroom duplex units and one single-family detached residence. Dan Blackwell and Mike O’Neill represented both the buyer and the seller in the transaction. …
SAN DIEGO, CALIF. — Affirmed Housing and the Metropolitan Transit System (MTS) have completed ShoreLINE, a $62.6 million affordable, transit-oriented housing development in San Diego. The property is located at the Grantville Transit Center on Alvarado Canyon Road. ShoreLINE comprises 126 apartments in studio, one-, two- and three-bedroom floor plans. The property is affordable to households earning between 30 and 60 percent of the area median income. Amenities include laundry facilities, bike storage, parking, a computer lab, courtyard, outdoor gardens, a playground, barbeque station and a community room with gathering …
SANTA ANA, CALIF. — CBRE has arranged the $1.2 million sale of a 0.3-acre development site located at 1212 East 4th Street, near downtown Santa Ana. A 15-unit complex called 4G Lofts will be built on the site. Once completed, the community will feature studio, one- and two-bedroom units. One apartment will be designated as affordable. Income restrictions for this unit were not disclosed. The property will also feature 17 parking spaces. Michelle Jefcoat and Dan Blackwell of CBRE represented the seller, an Orange County, California-based private investor, in the …
WESTMINSTER, CALIF. — CBRE has arranged the sale of La Pat Courtyard Apartments, a 30-unit community in Westminster. The community was purchased by a private investor for $10 million in a 1031 exchange. Dan Blackwell and Andrew Boukather of CBRE represented the Los Angeles-based seller in the transaction. Additionally, Blackwell and Boukather, along with Amanda Fielder, represented the Orange County-based buyer. La Pat Courtyard Apartments is situated on a 0.9-acre lot between Westminster Boulevard and Humboldt Avenue. The property was originally built in 1961 and recently underwent $1.4 million in extensive interior and exterior …
LOS ANGELES — CIM Group has opened The Jayne, a six-story building located at 2555 S. Mansfield Ave. in Los Angeles’ West Adams neighborhood. The Jayne offers 69 units, with six units set aside as affordable. Income restrictions for the affordable units were not disclosed. Units come in studio and one-bedroom floor plans. Community amenities include outdoor gathering spaces, a fitness center, bike racks, storage and Amazon package lockers. The property also includes 5,453 square feet of ground-floor retail space.
MOORPARK, CALIF. — Decron Properties has sold Ranch at Moorpark, a 376-unit property in Moorpark, approximately 50 miles west of Los Angeles. AEW Capital Management acquired the asset for $133.2 million. Ranch at Moorpark is situated at 51 Majestic Court. Amenities include a fitness center, yoga and spin studio, clubhouse with chef’s kitchen, children’s play area, dog park, pool, poolside barbecue and dining areas, fire pits and seating areas.
COSTA MESA, CALIF. — CBRE has arranged the $5.8 million sale of Ebtide, a 12-unit property in Costa Mesa. Dan Blackwell, Mike O’Neill and Jack O’Connor of CBRE represented both the buyer and the seller in the non-exchange deal. The buyer was a private investor based in Newport Beach, California. The seller is based in Nashville, Tennessee. Ebtide was built in 1960 and renovated in 2022. The property is situated on a 0.3-acre lot at 1993 Church Street. Ebtide comprises 7,632 square feet across two buildings. Units come in one-bedroom layouts …
LOS ANGELES — Rick Raymundo and Ben Savoy of Marcus & Millichap has brokered the sale of a six-unit building at 6645 Farmdale Ave. in the North Hollywood neighborhood of Los Angeles. The asset traded hands for $1.7 million. Raymundo and Savoy represented the undisclosed buyer and undisclosed seller in the deal.
CERES, CALIF. — Marcus & Millichap has negotiated the sale of The Vineyard, a 212-unit community in the Modesto, California suburb of Ceres. The property traded hands for $32.6 million. Jon Mimms of Marcus & Millichap’s Fresno office represented both the undisclosed seller and undisclosed buyer in the deal. The Vineyard was built in 1979. Apartments at the community average 671 square feet in size and feature open floor plans, large kitchen pantries and central heating and air conditioning. Community amenities include two pools, five laundry rooms, covered parking, pathways and …
SANTA CLARITA, CALIF. — Kennedy Wilson’s debt platform has provided a $95 million senior construction loan for the development of an apartment and build-to-rent project in Santa Clarita, approximately 33 miles northwest of Los Angeles. The borrower was a joint venture between Greystar Real Estate Partners and The Resmark Cos. Situated within the Sand Canyon Plaza master planned community, the project will comprise 259 apartments and 64 build-to-rent townhomes. Planned amenities include a clubroom, fitness center, courtyard, game lounge, co-working space, sky deck, pool and spa. The build-to-rent units will offer …