(Save the date: RealShareApartments comes to the Westin Bonaventure, LosAngeles, October 24.)
SANTA BARBARA, CA-GlobeSt.com exclusively learns thatInterstate Equities Corp., a Northern Californiainvestment group, has sold 554-555 Coronel Place, a 49-unitapartment building in Santa Barbara. The salesprice of $11.7 million equates to $238,776 per unit and $256 persquare foot.
Marcus & Millichap Real Estate InvestmentServices brokered the sale of 554-555 Coronel Place.Ron Harris and Joseph Smolen inthe Los Angeles office represented the seller.The buyer wasRCMI, a real estate investment group based inSouthern California. Built in 1970 on 1.4 acres, the39,290-square-foot property is located in Santa Barbara’s LowerWestside neighborhood close to U.S. Highway 101, shops,restaurants, transportation, schools and beaches.
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