Fairfield Residential Adds CA Asset to Management Portfolio

The partially affordable community owned by Mill Creek Residential Trust encompasses 284 units and is located in Orange County’s Laguna Niguel.
Apex Laguna Niguel. Image courtesy of Yardi Matrix
Apex Laguna Niguel. Image courtesy of Yardi Matrix

After recently purchasing Magnolia Pointe Apartments in Durham, N.C. for $27 million, Fairfield Residential has become the new manager of Apex Laguna Niguel, a 284-unit asset located in Orange County. According to Yardi Matrix data, Lincoln Property Co. was the previous manager of the partially affordable community owned by Mill Creek Residential Trust.

Located at 27960 Cabot Road, Apex Laguna Niguel is in the near vicinity of major transportation routes such as California State Route 73 and Interstate 5. There are several shopping and retail venues in a 2-mile radius of the property, including The Shops at Mission Viejo, Orange County’s southernmost mall.

Completed in 2016, the six-story community includes 12 affordable units and features a rooftop terrace. The one- and two-bedroom apartments range from 595 to 1,438 square feet and all units have washer/dryers. Common-area amenities include controlled access, a swimming pool and spa, as well as covered parking.