Thank you for sharing!

Your article was successfully shared with the contacts you provided.

IRVINE, CA-Sales have speeded up at the 105-unit 3000 The Plaza condominium tower in recent weeks, according to the property’s new owner. Geoffrey Edmunds & Associates, which recently became the majority owner of the 15-story luxury condominium development at Jamboree Road near Campus Drive about two months ago, reports that 19 of the units have sold since Edmunds bought its ownership stake in the project, including four units in one week.

Scottsdale, AZ-based Edmunds sees the sales are the latest evidence of renewed activity in the Orange County housing market, which has rebounded somewhat of late. Statistics show that Orange County’s housing market is demonstrating gains each month as the market stabilizes.

Fifty of the units at 3000 The Plaza had already been sold when Edmunds acquired sole ownership of the remaining units in the tower. It is the third and final phase of a three-tower luxury condominium community. The 202 homes in the first two towers have already sold out.

Prices for the luxury condominiums start in the range of $600,000. To help spur sales, 3000 The Plaza is offering buyers a special rate of 2.875% on a seven-year fixed loan through the end of November.

Edmunds & Associates acquired the project from Opus West after Opus West filed for Chapter 11 bankruptcy protection. Edmunds, which was a partner with Opus in the previous ownership structure of the condo tower, said at the time of the acquisition that it decided to pursue sole ownership of the remaining units to complete the sellout of the project at the intersection of Jamboree Road and Campus Drive.

The condo tower features amenities including a concierge office, a fitness club, on-site retail and other services and amenities. The project features 12 floor plans, ranging from 1,445 to 2,485 square feet.

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?


GlobeSt. Multifamily Fall 2022Event

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information


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 © 2022 ALM Global, LLC. All Rights Reserved.