Sam Burton is theCEO of CityView.
Mid-rise apartment assets continue to see record pricing, andinvestor appetite is stronger than ever. DeveloperCityview has just sold two new constructionapartment assets, The Pearl in Los Angeles and Baker Block inOrange County for a total of $283 million. These deals illustratethe strong demand for well-located apartment deals with accessiblerents.
"This exceeded our expectations," Sean Burton,CEO of Cityview, tells GlobeSt.com. "We knew the market was strong.We had a plan to sell these assets this year because we really likethe markets that they are in and we were happy with how theprojects turned out. Between the two assets we had 30 offers, and anumber of competitive offers from major institutions and high-networth individuals. We were really happy with how the sale turnedout."
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