The seller, CT Realty, had recently completed a $2 million redevelopment of the community. Improvements included repairing the exteriors of the buildings, renovating the interiors of the units and adding washer/dryer hook-ups to all units.

Located at 15773 High Knoll Dr., the complex encompasses 13.5 acres. It consists of 26 two-story buildings and is currently 95% occupied. On-site amenities include two pools, two spas, a fitness center, basketball court, playground, community meeting room and daycare facility.

CT Realty and the buyer, a pension fund client of Invesco Realty Advisors, were represented by Mary Ann King and Scott Davis of Moran & Co.'s Costa Mesa office.