CBRE recently arranged the sale of two multifamily apartment communities totaling 38 units and $12.12 million in Orange County, completing a 1031 exchange. EVP Dan Blackwell, first VP Mike O’Neill and senior associate Andrew Boukather represented both the buyer and seller in this transaction. The 18 units at 1800 W Glencrest Ave., Anaheim were sold for $4.8 million while 20 units at 1887 Monrovia Ave., Costa Mesa were sold for $7.32 million to private investors based in Southern California.
Dan Blackwell commented that “Orange County multifamily assets continue to attract buyers looking for flight to quality and we expect this investor demand to continue into the near future” indicating strong market conditions across OC real estate sector as well as an increase in investor confidence within it..
