Miramar Capital has acquired two adjacent apartment properties in the Belmont Heights submarket in Long Beach from a private investor. The properties traded hands for $14.95 million.

Located at 425 Coronado Avenue and 424 Obispo Avenue, the properties offer a mix of spacious two-bedroom, one-bedroom and studio units and feature a swimming pool in-between the two buildings for residents' use. Additionally, the assets include 48 parking spaces.

Stepp Commercial principal Robert Stepp and SVP Michael Toveg represented the buyer in the deal.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.