Three of the properties, Hidden Hills, Niguel Summit and SeaviewSummit are located in Laguna Niguel. The fourth property, PalomaSummit, is located in Foothill Ranch. In all, the four propertiestotal 794 units.
Selling for around $130,000 per unit, the transaction isevidence that the demand for quality properties in Orange Countyremains strong despite a slowing national economy.
"I don't believe the market has peaked. There's room for somemovement," says Mark Carter, CEO of Sequoia Equities. "We feelSouthern California is trailing Northern California as far as rentincreases, probably by 18 to 24 months"
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