X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SANTA ANA, CA-Pacific Property Co., a Palo Alto-based investment group, has acquired the 406-unit Applewood Apartments complex for $36.5 million.

Located at 2414 N. Tustin Ave. in Santa Ana, the 36-building complex was 95% occupied at the time of sale. The seller was Pacific Gulf Properties, a Newport Beach-based real estate investment trust that is in the process of selling off its multifamily and industrial property portfolios.

According to the brokers on the deal, more than 20 offers were received on this property, establishing what they referred to as a “high watermark price point” for Class B apartment communities in central Orange County.

Brokers with Grubb & Ellis’ downtown Los Angeles and Anaheim offices represented both the buyer and the seller in the transaction.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. APARTMENTS SPRING 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.