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ANAHEIM, CA-Essex Property Trust of Palo Alto has acquired the 250-unit Anavia luxury rental complex from a wholly-owned subsidiary of KB Home in the Palo Alto-based REIT’s third acquisition of a condo-quality complex in Orange County this year. The sale, terms of which were not disclosed, was brokered by president Mary Ann King and director Tom Moran Jr. of the Irvine office of Chicago-based Moran.

Anavia, which had its first move-ins in November 2009, is a class A complex at a high-profile location across the street from Angel Stadium of Anaheim. The 250 units are located in a single, four-story, elevator-served building situated atop a two-level parking structure, with one level below grade and one at grade.

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