Surf City apartments sell for $4.75M or $527,899 each – Orange County Register
A nine-unit townhome complex just two blocks from the beach in Surf City has sold for $4.75 million or $527,899 per unit, according to CBRE, which represented the unidentified seller.
The buyers were also unidentified. CBRE reps said the property at 221 10th St. drew seven offers and sold for $51,000 above the list price.
The building includes townhome floorplans, CBRE said.
Dan Blackwell and Mike O’Neill at the brokerage represented the seller.
“We worked with a family trust in educating and leading them through the process to successfully sell their Huntington Beach multifamily property above asking price,” Blackwell said in a statement.
9 units sell in Anaheim for $3.45 million
Another nine-unit apartment building, this one in Anaheim, sold recently for $3,450,000 or $383,333 per unit.
The Casa Grande Apartments deal was brokered by Marcus & Millichap, which represented both the buyer and seller.
The 7,408-square-foot building at 1184 W. Casa Grande Ave. has five two-bedroom units and four one-bedroom units.
Greg Bassirpou, a senior vice president at Marcus & Millichap said the property is in a prime location, across the street from Disneyland and next to the Anaheim Convention Center. The seller, he said, recently renovated the exterior and interiors, “leaving the buyer in the position to acquire a turn-key asset that offers good projected rent growth and appreciation.”
Dana Point hotel in Dana Point sells, getting fresh look
Affiliates of Certares Real Estate Management in New Orleans and HRI Hospitality in New York have bought the DoubleTree Suites by Hilton Hotel Doheny Beach in Dana Point.
Terms were not disclosed by the firms.
The 196-room property includes an outdoor pool, a 24-hour fitness center, 13,643 square feet of indoor/outdoor event space and two dining options, including Longboard Rooftop Lounge, offering panoramic views of the Pacific Ocean.
The buyers plan to renovate public spaces and guest rooms, and then the property will be rebranded under another Hilton name in summer 2023.
Swenson Hall of Engineering complete at Chapman U.
The three-story Swenson Family Hall of Engineering at Chapman University in Orange, now the home of the new Dale E. and Sarah Ann Fowler School of Engineering, is complete, according to project manager C.W. Driver Cos. in Pasadena.
The project included a 31,000-square-foot interior buildout within the existing Keck Center for Science and Engineering, which was also built by C.W. Driver in 2018.
Swenson Hall includes research and teaching labs, state-of-the-art equipment for fabrication, a “makerspace” and robotics lab, an open faculty suite, student and faculty collaboration spaces and a dean’s suite.
Jim Swenson and the Swenson Family Foundation donated $5 million to Chapman University in 2020. Jim Swenson, who died in 2018, was the founder of Details Inc., a prototype circuit board company. Some of the original circuit boards built by Sweson’s for Apple, IBM and Motorola will be on display in the hall bearing his family name.
Laguna Point Properties bets big in Las Vegas
Laguna Point Properties has bought its largest multifamily community in Las Vegas for $126 million.
The Mission Viejo-based firm said it acquired The Harmon at 370, a 996-unit complex, in an off-market transaction.
LPP said it will begin a multimillion-dollar renovation program immediately, including updates to unit interiors, building exteriors and common areas. Management expects to complete the improvements within 18 months.
Cushman & Wakefield has been engaged to manage the property.
People in real estate
Mark Butcher has joined Kidder Mathews as its senior vice president and market leader for asset services in the region. He will be responsible for developing and directing property teams, client development and support, and overall quality control in service delivery. Previously, he was with Alexandria Real Estate Equities’ San Diego asset service division.
Garrett Weston has joined Coldwell Banker Realty’s Newport Beach office. Previously an agent with Compass, he reportedly closed nearly $200 million in sales volume in the last 12 months. “I’m not happy unless other people around me are happy, so I always try to create the best experiences in everything I do and pass that onto my clients, family and friends,” Weston said in a statement.
Real estate transactions, leases and new projects, industry hires, new ventures and upcoming events are compiled from press releases by contributing writer Karen Levin. Submit items and high-resolution photos via email to Business Editor Samantha Gowen at email@example.com. Please allow at least a week for publication. All items are subject to editing for clarity and length.