SANTA ANA, CALIF. — CBRE has arranged the sale of two properties in Santa Ana, about eight miles southeast of Anaheim, California, in separate transactions. The combined sales price was $2.8 million. Both deals were completed with all-cash buyers. The first property is a fourplex located at 3720 South Marine St. The building traded hands for $1.6 million. Built in 1968, the community offers a mix of two- and three-bedroom units. The average apartment size is 1,088 square feet. The units are individually metered for gas and electricity and feature …
HUNTINGTON BEACH, CALIF. — CBRE has arranged the sale of an eight-unit property at 212 15th St. in Huntington Beach, approximately 20 miles southwest of Anaheim, California. The asset traded hands for $3.9 million in a 1031 exchange. Dan Blackwell and Mike O’Neill of CBRE represented the seller, a local family trust, in the transaction. CBRE also procured the Orange County-based buyer. The 6,538-square-foot property is situated across a double lot. The community offers a mix of one- and two-bedroom units. Each apartment includes a private patio or balcony and …
TUCSON, ARIZ. — Cushman & Wakefield | PICOR has negotiated the sale of Sunnyslope Apartments, a 41-unit property located at 150 E. Hardy Road in Tucson. The two-story asset was built in 1972 and offers amenities such as a laundry facility and a pool, according to Apartments.com. Urbana @ Oro Valley LLC acquired the community from Sunnyslope Apartments LLC for $5.6 million. Allan Mendelsberg and Joey Martinez of Cushman & Wakefield | PICOR represented the buyer and seller in the deal.
HUNTINGTON BEACH, CALIF. — CBRE has arranged the sale of an 18-unit property located at 125 16th St. in Huntington Beach, about 20 miles southwest of Anaheim, California. The property totals 15,809 rentable square feet across six lots. Units come in one-, two- and three-bedroom layouts. Select apartments have ocean views and either a private patio or balcony. Amenities include a courtyard, sun deck, laundry facilities and an on-site manager. Dan Blackwell and Mike O’Neill of CBRE represented the seller, a local family trust, in the transaction. Additionally, CBRE represented …
DENVER — Property management company RADCO Residential has appointed Amie Robertshaw to the role of vice president of client services. In this position, Robertshaw will be responsible for expanding the company’s third-party management portfolio and will work with department leads during management transitions, acquisitions and more. She will be based in Denver. Prior to joining RADCO Residential, Robertshaw served as vice president of client services at Asset Living. She also has held positions at Avanti Residential (previously known as Capital Real Estate LLC). She currently serves as the president of …
HUNTINGTON BEACH, CALIF. — CBRE has arranged the sale of two neighboring fourplexes located at 317 and 321 22nd St. in Huntington Beach, about 20 miles southwest of Anaheim, California. The assets traded hands for a total of $5.4 million. Dan Blackwell and Mike O’Neill represented the seller, a local family trust, in the transaction. Each two-story property comprises 4,101 rentable square feet. Both buildings offer a mix of one-, two- and three-bedroom apartments with either a patio or balcony. Additionally, each property features six single-car garages, one open-space parking …
FLAGSTAFF, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), has arranged the sale of Ponderosa Park in Flagstaff. Bridge Partners acquired the 120-unit property from Keller Investment Properties for $28 million. Ponderosa Park was built in 1985. The property is located on five acres across the street from Buffalo Park, a 215-acre park with a two-mile hiking trail. The community offers amenities such as two laundry facilities, a clubhouse, fitness center and 24-hour emergency maintenance services. IPA’s Steve Gebing, Cliff David and Hamid Panahi …
LOS ANGELES — BridgeCore Capital has provided a $6.5 million loan for the refinancing of an asset situated on the border of the Koreatown and MacArthur Park neighborhoods in Los Angeles. The undisclosed borrower will use the funds to refinance a matured loan and to pay outstanding property taxes. The name of the property was not disclosed. BridgeCore Capital structured the loan with a six-month prepaid interest reserve to cover the shortfall between net operating income and BridgeCore Capital’s debt service, as well as to avoid payment default by the …
PHOENIX — Pacific Development Partners has completed the disposition of Vela on Camelback, a 237-unit community located in Phoenix’s Camelback Corridor neighborhood. Sherman Residential purchased the asset for $72 million. Vela on Camelback was built in 2017. The property offers 237 units. Amenities include a sky deck that overlooks the nearby Piestewa Peak and Camelback Mountain, pool and spa area with barbecue pavilion, fitness center, resident lounge with community kitchen, dog wash and fenced dog run, outdoor courtyards and package lockers. The transaction is Sherman Residential’s first acquisition in the Phoenix …
OCEANSIDE, CALIF. — Marcus & Millichap has negotiated the sale of 1210 South Nevada Street, an 11-unit property in Oceanside. The building houses eight two-bedroom units and three one bedroom apartments. The community also features 11 single-car garages and 12 offsite parking spaces. Matt Vessell sold the asset to Matt Pace for $3.3 million. Adrian Grobelny and Conor Brennan of Marcus & Millichap’s San Diego Del Mar office represented the seller and procured the buyer in the deal.