According to CBRE, a 56-unit apartment complex in Anaheim was sold to an unidentified investor for $ 15.6 million, or $ 279,000 per apartment.
Dan Blackwell of CBRE represented the buyer and seller.
“The Orange County market is very competitive right now and we are working with many real estate investors in both market and over-the-counter opportunities to help facilitate multi-family transactions,” Blackwell said in a statement.
A two-story house called The OC Apartment Homes at 1251 N. Placentia Ave. was built in 1973 and covers an area of 2.35 acres. The buildings include one and two room floor plans. One-bedroom apartments are rented for about $ 1,525, according to various rental sites. Amenities include a swimming pool and shared laundry facilities.
The CBRE team said it helped the buyer acquire a $ 24 million multi-unit portfolio of 84 units. It was the team’s 80th sale in Anaheim.
Placentia complex sells for $ 15 million
Staley Point Capital has acquired 58,000 square feet of industrial property at 888 Crowther Ave. at Placentia for $ 15 million.
Staley Point Capital made the purchase with its joint venture partner Bain Capital Real Estate. The Placentia acquisition marks the company’s ninth industrial investment since its launch in September 2020. The firms also recently acquired 42,000 square feet of industrial property in the San Fernando Valley and 55,000 square feet of industrial property in Santa Fe Springs.
JLL represented an unidentified seller.
Casey Lescher of Coldwell Banker Realty Newport Beach is sponsoring the Kure It Cancer Research Big Dill Pickball Tournament on Sunday 22 August at the Newport Beach Tennis Club.
The tournament will include a live entertainment program, a comfort station, food, drinks and the possibility of a draw. There are two forms of play available: a competitive schedule and a fun and friendly schedule.
Kure It was founded in Newport Beach about 10 years ago by Barry Hooven, founder and CEO of Westport Properties and US Storage based in Irvine. Noting that there was little funding for the research, Hooven, who was battling kidney cancer, used his Newport business connections to create Kure It to help bridge an underfunded cancer research gap.
To date, Kure It has provided $ 11 million in direct funding to cancer centers at UCLA, UCLA, UCLA and City of Hope.
Industrialists on the move
John Pearce joined Laguna Beach-based industrial property development company McDonald Property Group in the newly created senior vice president of development. He previously served for five years as VP of Development at Prologis and will now focus on all aspects of development, including construction management, upcoming and new industrial development projects for McDonald’s in the Inner Empire.
John Racunas joined Alliant Insurance Services, based in Newport Beach, as Senior Vice President of Alliant Real Estate. In this role, he will focus on providing solutions for commercial real estate, construction and large hospitality risks. Previously, Rakunas served as Senior Vice President at a Regional Insurance Brokerage Company, where he was involved in commercial real estate, hospitality and construction projects. Based in Newport Beach, California, Racunas can be contacted at 949-681-9058 or John.Racunas@alliant.com…
Susan Rounds has been named the new Managing Director of Operations for BKM Capital Partners from Newport Beach. She has 20 years of experience in HR, team management and business development. Previously, Rounds spent almost 18 years at the Red Mountain Group, most recently serving as Senior Vice President of Human Resources, IT and Marketing. Her main responsibilities at BKM will be to implement HR initiatives, policies and procedures, recruitment, retention, performance management and mentoring.
The Mogharebi Group, a multi-family brokerage and consulting firm in Costa Mesa, has opened its first office in Seattle.
The Seattle office will be run by brokers Robert Parmar and Ryan Kidwell, who have joined the firm to spearhead its expansion into the Pacific Northwest.
The new office will be the second of five new Western US markets that TMG plans to enter within the next three years, following the opening of the Salt Lake City office in April 2021.
Parmar joins The Mogharebi Group of Summerfield Cos., Which he founded over 20 years ago.
Most recently, Kidwell was a managing broker at Summerfield Cos. Together with Parmar, who was in charge of the sales department.
Irvine-based LPA recently donated 50 laptops to Orange Coast College.
The design firm said it “responded to a call for help” from the architecture department of the OCC, whose students were particularly hard hit by the pandemic. LPA said it will repair and donate 50 retired LPA laptops with the help of the American Institute of Architects.
“It is important for LPA to mentor and support the next generation of architecture and engineering professionals,” said Ozzy Tapia of LPA. “The pandemic has hit many college students and their families hard, and LPA is honored to help reduce some of the financial burden.”
Thirteen LPA volunteers removed obsolete batteries, installed new ones, returned computers to factory settings, and installed the necessary software for student use. Refurbished computers will be handed over to schoolchildren by the 2021-2022 school year.
Real estate deals, leases and new projects, industry hires, new ventures and upcoming events compiled from press releases from writer Karen Levin. Email High Resolution Objects and Photos to Business Editor Samantha Gowen at firstname.lastname@example.org… Please allow at least a week to post. All elements must be edited for clarity and scope.