(Read more on the multifamily market.)
ORANGE, CA-GID Investment Advisers of Boston has acquired a280-unit apartment complex here and plans to spend about $15,000per unit to upgrade and reposition the property. Precise terms ofthe deal were not disclosed, but Rich Ross, Larkspur-based directorof western region acquisitions for GID, tells GlobeSt.com that theprice was more than $300,000 per unit.
The complex, at 1235 Town & Country Rd., formerly was calledthe Meridian at Town & Country but has been renamed the Windsorat Main Place. The Windsor complex, which consists of units of oneand two bedrooms that average 888 sf on a five-acre site, was 95%occupied at the time of the sale.
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