Berkadia Closes Leasehold Sale of OC Community

Bridge Investment Group sold Coronado Palms, a 168-unit garden-style community in Anaheim, Calif., to Canyon Multifamily Impact Fund.

Coronado Palms

Coronado Palms

Bridge Investment Group closed the leasehold sale of Coronado Palms, a 168-unit multifamily garden community in Anaheim, Calif., to Canyon Multifamily Impact Fund. Shane Shefer, managing director of Berkadia represented the seller in the deal. Earlier this year, the company also completed the sale of Veranda Apartment Homes, a 128-unit community in Fullerton, Calif., located within three miles of Anaheim.

“The Anaheim submarket is one of the strongest in Orange County, due to the continually strong tourism industry,” said Shane Shafer, managing director of Berkadia, in prepared remarks. “This is creating many jobs and high demand for apartments. Coronado Palms is a great example of a property that is well located and benefiting from the great market fundamentals.”

The asset is situated at 1250 S. Euclid St. and provides access to Interstate Route 5 and Disneyland Theme Park. Coronado Palms consists of one-, two- and three-bedroom floor plans with large closets, extra storage and in-unit air conditioning.

Community amenities include:

  • barbecue and picnic area
  • business center
  • clubhouse
  • controlled access
  • covered parking
  • dog park
  • fitness center
  • free weights
  • laundry facilities
  • playground
  • pool

Image courtesy of Berkadia