(Read more on the multifamily market.)
NEWPORT BEACH, CA-CT Realty Corp. and Carlsbad-based MacbethApartment Systems Inc. have formed a joint venture to acquiremultifamily properties in Southern California, marking the returnof CT to the multifamily arena. According to CT Realty PresidentRobert M. Campbell, the Newport Beach-based firm will use fundsfrom its California Fund V and its new California Fund VI toacquire multifamily properties in San Diego, Orange, Riverside, SanBernardino and Los Angeles counties.
CT Realty once owned about 6,000 apartment units, which thecompany then renovated and sold over the past few years. Thecompany instead has been focusing on redevelopment of office,industrial and self-storage properties as well as other real estateinvestments in the recent past.
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