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ORANGE COUNTY, CA-A unit of AvalonBay Communities Inc., AvalonBay Value Added Fund II LP, has bought the 628-unit apartment complex, Creekside Meadows, situated in Tustin for $98 million.

AvalonBay Communities owns a 31% share in AvalonBay Value Added Fund II LP. Security Properties Inc., a Seattle-based firm, purchased the 70-building complex for $123 million four years ago. Bascom Group LLC, an Irvine-based firm, sold the building in the 2006 transaction. For the full story, go to Orange County Business Journal.

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