Located at 2414 N. Tustin Ave. in Santa Ana, the 36-buildingcomplex was 95% occupied at the time of sale. The seller wasPacific Gulf Properties, a Newport Beach-based real estateinvestment trust that is in the process of selling off itsmultifamily and industrial property portfolios.
According to the brokers on the deal, more than 20 offers werereceived on this property, establishing what they referred to as a"high watermark price point" for Class B apartment communities incentral Orange County.
Brokers with Grubb & Ellis' downtown Los Angeles and Anaheimoffices represented both the buyer and the seller in thetransaction.
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