Thank you for sharing!

Your article was successfully shared with the contacts you provided.

RIVERSIDE, CA- KDF Communities LLC of Newport Beach has acquired the 156-unit Breezewood Apartments from the Riverside County Housing Authority for $8.5 million, according to SVP Udi Katz of Coldwell Banker Commercial.

Katz tells GlobeSt.com that the transaction represents a rare type of deal in the apartment market because the property is an affordable housing project that was financed via tax credits when it was developed, and such properties do not change hands very often. Katz represented both the seller and the buyer, which specializes in acquiring properties like the Breezewood complex.

The Breezewood property is at 1410 Satinwood Court and consists of 39 buildings, all of them four-plexes and all of them two-stories.

The complex includes two-bedroom apartments as well as two-bedroom townhouse-style units that measure 900 sf and 920 sf, with rents of $600 and $650. The Breezewood was 100% occupied at the time of the sale. Katz says the new owner plans renovations at the complex, which was built in 1971. Financing for the recent purchase was provided by GMAC.

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?


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.