TUSTIN, CA-The Roy E. Daly Co. has gone to market with aportfolio of four low-density, garden-style complexes totaling 575units that represents what the CB Richard Ellis listing agents forthe portfolio describe as a rare opportunity. The four properties,two in Tustin and two in other Southern California cities, arebeing offered on a one-off or portfolio basis. The asking pricesfor the four total $108.5 million.

The four properties are the 247-unit Sunridge Pines Luxury TownHomes in Alta Loma, the 140-unit Canyonwoods Apartments in LakeForest, the 124-unit Pinewood Apartments and the 64-unit TustinPlaza―the latter two both in Tustin. The CBRE listingagents are senior vice president Raymond Eldridge and first vicepresident Robert Patterson in the company's Newport Beach office,along with vice chairman Tyler Anderson in CBRE's Las Vegasoffice.

The Kansas-based Daly Co. was the original developer of theproperties, which the CBRE brokers describe as "impeccablymaintained through extensive capital investment by the originaldeveloper." All four complexes are strategically located withintheir respective markets and feature significant value-addopportunities, the CBRE team says. In addition, Sunridge Pines andPinewood both have condominium tract maps. Average occupancies atthe properties range from 94% to 96%, with average rents that rangefrom $1,250 to $1,478.