Bellum Manor is a 214-unit apartment community built in 1973 with resort style swimming pools, children's playground, and on-site basketball court.

Which is a sign of the continuing robust market. But, says Al Pontius of Marcus & Millichap, the sector isn't without its challenges.

Los Angeles and Orange County are among the top markets for green building in both office and multifamily.

The transaction was executed at an approximate 7.86% initial capitalization rate with rents of $34.2 million and a weighted average remaining lease term of 8.7 years.