Fouad and Alicia Zacharia of Laguna Hills, CA paid $1.84 million for a 40,125-sf complex at 525 E. Bethany Home Rd. to Gordon Matthews, of Orindo, CA, Steve Nicoluzakis, with Grubb & Ellis/BRE Commercial, tells GlobeSt.com. He says the Zacharias selected Bethany Terrace Apartments because it was located in the same area where they previously owned an investment property and felt comfortable with the mix of tenants.
The complex, situated on well-landscaped grounds, had been extensively renovated by the previous owner, who held the asset for 2.5 years. The couple will focus on managing and leasing the one- and two-bedroom units, of which 20% are vacant, says Nicoluzakis, who partnered with Grubb's David Fogler to sell the asset. The Zacharias were self-represented.
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