(Read more on the multifamily market.)
SANTA ROSA, CA-Lyon Capital Ventures has acquired a 138-unitapartment complex on 9.4 acres here that is mapped for conversionto condominiums. The Newport Beach-based company paid a privatepartnership approximately $27.3 million for the property, localindustry sources tell GlobeSt.com.
Due to ongoing construction on some of the eight buildings theBella Oaks complex was 65% leased at the time of sale. Thebuildings house one-, two- and three-bedroom units that rent forbetween $1,250 and $1,800 per month, which translates to between$1.63 and $1.75 per sf.
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