This Deal Shows Why 1031 Market Has Skyrocketed

The Swanson Apartment Team News

A recently closed transaction is a textbook example of how and why 1031 exchanges are powering an already healthy multifamily market and pushing Orange County into record territory, Colliers International executives tell GlobeSt.com. But, while values have risen to record levels, investors-who have to pay as much a 40% in capital-gains taxes on their investment properties if they sell them …

Dealing With Multiple Bidders In MF Sales

The Swanson Apartment Team News

IRVINE, CA—Coordinating as many as 10 bidders for one apartment sale demonstrates the confidence investors have in the multifamily investment market in Orange County as we continue into a new year, Colliers’ Patrick Swanson tells GlobeSt.com. Read the full article at Globe St.

Santa Ana Apartments Sell For First Time In 35 Years

The Swanson Apartment Team News

After multiple offers, a 35-year-old multifamily property in Santa Ana sold for the first time for $6.8M. The 29-unit multifamily development is spread over four separate parcels on 2.26 acres. Its sale was part of a 1031 exchange. Colliers International senior vice president Patrick Swanson and associate Brenden Felix repped the seller. Both Swanson and Felix are based in Colliers’ Irvine office. …

Trico Trading Buys Huntington Beach Multifamily Portfolio

The Swanson Apartment Team News

Trico Trading Corp. acquired two multifamily properties in Huntington Beach, CA from a family trust for $9.8 million, or approximately $362 per unit. Patrick Swanson and Brett Bayless with Colliers International represented the seller. Frank Dinari with Sperry Commercial represented the buyer. Read the full article at CoStar.

What’s Attracting Investors To East Costa Mesa?

The Swanson Apartment Team News

EAST COSTA MESA, CA—A world-class multifamily rental market adjacent to Newport Beach, East Costa Mesa offers excellent lifestyle amenities, proximity to employers and high average household income, Colliers executives tells GlobeSt.com EXCLUSIVELY. To read the full article, visit Globe Street.

San Angelo Apts Sell for $7.2M

The Swanson Apartment Team News

Strattford Capital LLC purchased the 30-unit San Angelo Apartments at 8131 San Angelo Dr. in Huntington Beach, CA from a private trust for $7.2 million, or about $232,000 per unit. Patrick Swanson and Brett Bayless of Colliers International in Irvine represented the seller. Gary Tolfa of Investment Property Group represented the buyer. Read the full article at CoStar.