Shane Shafer, managing director at Northmarq’s Irvine Investment Sales office, expertly arranged the $34.375 million sale of Cypress Village Apartments in Buena Park. Representing the seller Priya Living, Shafer secured a price of $390,625 per unit.
According to Shafer, this transaction highlights the continued interest in Orange County multifamily properties through 2024. He notes that high-quality locations like Buena Park are highly sought after by investors and rarely come on the market due to their strong demand and excellent market fundamentals.
In addition to facilitating the sale, Northmarq’s San Francisco Debt + Equity team also arranged acquisition financing for the buyer totaling $19.7 million. Led by managing director Nate Prouty and VP Briana Harney DeHaan with support from Andrew Deaver and Soraya Rios., they were able to secure rate locks and proceeds within just eight days despite a tight timeline set by the borrower.
This successful deal showcases Northmarq’s expertise in navigating complex transactions while delivering exceptional results for their clients seeking consistent returns in top markets like Orange County.
