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Raintree Partners Acquires $60M Multifamily Community

VENTURA, CA-The firm was attracted to Archstone’s Ventura Colony because of its location—it is within walking distance of high-end retail, a block from the entrance to the 101 Freeway.

By Natalie Dolce | Updated on November 28, 2012

VENTURA, CA-GlobeSt.com has exclusively learned that Raintree Partners has acquired Archstone Ventura Colony, a 272-unit multifamily community located just off of the 101 Freeway in the coastal community of Ventura. The sales price of $60 million equates to $220,680 per unit.

While the acquisition represents Raintree’s initial foray into Ventura County, it brings the firm’s portfolio in California to 16 properties and over 2,300 units, according to Jeff Allen, CEO of Raintree Partners. Institutional Property Advisors, a division of Marcus & Millichap, advised on the sale of the asset.

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