OC’s robust demographics keep multifamily assets in high demand! I recently shared insights with Western Real Estate Business on the state of the market. Click to read the article: https://bit.ly/WREB-July2022
Newport Beach-based KDF Communities acquired Five Points Senior Apartments, a 166-unit multifamily community in Huntington Beach from an unnamed private party for $49 million. The deal traded at a 15.68 GRM and 3.67% cap rate. Read the full article at Connect Media
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 …
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.
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 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.
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.
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.
Multifamily remains the most desirable asset class in Orange County due to a steady increase in apartment rental demand, strong sector fundamentals and the county’s emergence as a Southern California leader in the economic recovery. These factors have become a catalyst for a surge in multifamily asset construction. Apartment rental demand continues to grow in Orange County due to the …
CA-Windsor Gardens, a 708-unit multifamily complex here, sells for $191 per square foot and brings in rental rates 15% below market, creating a rare value-add opportunity. Read the full article at Globe Street.
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