Raintree Pays $100M for Southern California Asset
Institutional Property Advisors brokered the transaction.
County Center LP has sold Cypress Point, a 268-unit community in Ventura, Calif., for $100 million—or $373,134 per unit. Institutional Property Advisors brokered the deal on behalf of the seller and procured the buyer, Raintree Partners.
The property is one of the four Ventura assets with 250 apartments or more that have traded in the past 10 years, IPA Executive Managing Director Joseph Grabiec said in prepared remarks. The community’s occupancy over the last five years has averaged 97.6 percent.
Located at 1241 Cypress Point Lane, the property is close to Highway 101 and a host of dining and retail options. Downtown Los Angeles is 64 miles away, while LAX International Airport is 68 miles southeast.
READ ALSO: Top 10 Emerging Multifamily Markets of 2025
Completed in 1990, Cypress Point comprises 28 two-story residential buildings across 14 acres. The unit mix comprises one- and two-bedroom floorplans ranging between 740 and 1,000 square feet. Each apartment has a private balcony or patio.
Common-area amenities include a fitness center, clubhouse, swimming pool and playground, as well as two spas and four laundry facilities. The property also has a barbecue and picnic area and about 270 parking spaces.
Grabiec, together with IPA Executive Managing Directors Kevin Green and Gregory Harris, brokered the deal.
Los Angeles sales volume higher year-over-year
Los Angeles registered nearly $833 million in assets changing hands year-to-date as of July, according to Yardi Matrix data. This figure is higher than the $742 million registered during the same timeframe last year. The average per-unit price clocked in at $308,244 in 2025.
In one of the more significant transactions of the first seven months, MG Properties paid $144 million for Citron Apartments, a 314-unit community in Anaheim, Calif. The four-story property came online in 2023.
