Buena Park apartments sell for $ 16 million – Orange County Register
A 56-apartment building at 8462 Whitaker St. in Buena Park sold for $ 16.22 million, according to Avison Young, who brokered the deal.
Built in 1977, Sunrise Apartment Homes span 2 acres and include a mix of one and two bedroom floor plans. The property comprises three two-storey garden-style buildings and one one-storey building.
Peter Hauser and Matt Hauser represented the seller, an unidentified family partnership in Orange County. The buyer, an unidentified Orange County investor, was represented by Mark Bridge of Cushman & Wakefield.
Anaheim apartments to become effective
Jefferson Platinum Triangle, a 400-unit apartment community in Anaheim’s Platinum Triangle neighborhood, has been sold for $ 160 million and will be converted into worker apartments.
Waterford Property Co., in partnership with the California Statewide Communities Development Authority, acquired the property using tax-exempt bond financing. The program allows the CSCDA to acquire multi-family projects without resorting to public subsidies in order to provide housing for the working population with average incomes.
The partnership will be able to reduce rents for existing and new qualified tenants representing between 80% and 120% of the median income in the area.
Along with CSCDA, Waterford also recently acquired Parallel Apartments in Anaheim.
“Anaheim is taking an important step forward in supporting this innovative program and we are delighted that more cities across the state are starting to review and approve this program,” said John Drachman, Co-Founder of Waterford.
BKM sells Arizona park for $ 85 million
Newport Beach-based BKM Capital Partners sold Tempe Commerce Park, a five-building light industrial park in Tempe, Ariz., For $ 85.35 million.
The purchaser of the 536,051 square foot property was Investcorp.
BKM’s Industrial Value Fund I acquired the industrial park in 2015. The company said it was 93% leased to eight tenants.
JLL handled the transaction on behalf of the seller and arranged an acquisition loan for the buyer.
New fountain for the village of Utah
Outside the Lines, an Anaheim-based design-build company, and CenterCal have built a new exhibit fountain in Mountain View Village, an 85-acre lifestyle development in Riverton, Utah.
OTL created a 13-foot bronze American eagle sculpture, which honors men and women serving in the Riverton Fire Department, Police Department and the local National Guard.
The fountain uses new technology to produce choreographed water and light shows, according to Chris Roy, OTL’s director of creative design.
People in real estate
Joe Demetry has joined the Mission Viejo office of Coldwell Banker Realty as an Affiliate Agent. Previously he was an agent at Keller Williams and before that he was a nurse at DaVita Dialysis.
Tom Berndt, an agent with the Coldwell Banker Realty office in Laguna Beach, collected over 800 children’s hats, 2,000 adult reading glasses, and 400 new and used sunglasses for Village Hope Core during its 10th fundraiser annual hats and glasses.
All donated items will be returned to the orphans and villagers of Mt. Kenya to Chogoria, Kenya.
“Due to the current pandemic, I was concerned that we would see a drop in donations, but luckily we did not,” Berndt said. “In just one month, the generous members of our community have donated twice as many as in previous campaigns which lasted six months, which will make a huge difference to the eye health of the community of Chogoria, as each donation, in cash or in articles, goes back to the people. . “
In 2019, each child of the two orphanages on Mt. Kenya received a hat for the first time. Hats and sunglasses are important in this part of Kenya as children contracted cataracts due to a lack of protection from the high altitude sun.
Real estate transactions, leases and new projects, industry hires, new businesses and upcoming events are compiled from press releases from editor Karen Levin. Email items and high-resolution photos to Business Editor Samantha Gowen at [email protected] Please allow at least a week for publication. All elements are subject to change for clarity and length.