Orange County Deals Completed, Including Largest Deal in Tustin this Year
- Dec 03, 2015
Tustin Parc Apartments and Hacienda Court Apartments traded hands in separate deals this October, with both deals arranged by Berkadia Senior Director Shane Shafer.
Tustin Parc Apartments was purchased for an undisclosed amount by A & M Properties of Huntington Beach from two San Francisco-based entities, including Carmel Partners. The new owner aims to carry out a number of improvements at the property.
Located at 16282 East Main St., the asset consists of 246 two-bedroom apartments. Currently operating at 4 percent occupancy, Tustin Parc offers proximity to State Route 55 and Santa Ana Freeway, as well as The MarketPlace and Santa Ana Zoo. The deal is the largest to take place in Tustin this year.
Purchased for $15 million by an investor along with general partner CH Realty Investments from A & M, the Hacienda Court Apartments is an 84-unit community. The property’s unit mix consists of one- and two-bedroom floor plans, and apartments feature fully equipped kitchens, cable and Internet access, and vertical blinds.
Residents have access to an amenity package that includes laundry and on-site management. The 1961-built residential building is located at 104 East Leatrice Lane near the I-5 in Anaheim. Anaheim Gardenwalk and Disneyland Parks and Resorts are located nearby.