Ventura County Asset Sells for $93M

Built as luxury condominiums, the units resemble single-family homes.

The Vines at Riverpark

Interstate Equities Corp. has acquired The Vines at Riverpark, a 164-unit multifamily community in Oxnard, Calif., for $93 million, in an off-market transaction. The seller was Champion Real Estate Co., represented by Senior Director Mike Murphy and Managing Director Adrienne Barr with Berkadia Institutional Solutions.

Completed in 2015, Vines at Riverpark encompasses 21 buildings, with two- and three-bedroom townhouses ranging from 1,173 to 1,408 square feet. The Class A property was built as luxury condominiums that resemble single-family homes. In-unit amenities include enclosed garages with direct access, private patios or balconies, washers and dryers, central air and heat and stainless-steel appliances.

Located at 3040 N. Oxnard Blvd., the community is next to The Collection at Riverpark commercial center, a green area and a dog park. Route 101 is only 2 miles from the property, offering several additional dining and retail options.

The seller, Champion Real Estate Co., recently acquired a site in Seattle for $7.3 million, planning to develop a 110-unit, 516-bed student housing community. Victory at the U will be a 21-story tower comprising a mix of four-bedroom apartments and townhomes.

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