Western National покупает пару комплексов

Западные Национальный Realty Advisors, разработки и приобретения руку Западной группы Irvine Национальный продолжал строки приобретений в регионе с его приобретением пару квартир общин в Rancho Cucamonga. Фирма заплатили чуть менее $ 101 млн для Ironwood и фарватерах Palms, два соседних общин, которые были принадлежащий JPMorgan Chase & Ко Западной Национальной планирует работать их как единое сообщество, состоящий из 496 единиц.

The communities feature one-, two- and three-bedroom apartments, with central air, in-unit washers and dryers, and nine-foot ceilings. Ironwood, 11100 Fourth St., has 260 units. Fairway, 11201 Fifth St., has 236 units. Ironwood and Fairway Palms are currently 95 percent occupied. Jerry LaPointe, vice president of acquisitions for the firm, said the properties – which were developed in 2002 – are "in fairly good condition" and Western National has no plans to renovate. Mike Murphy, director of Moran and Co., represented the seller. The acquisition is Western National's sixth and final out of its $240 million second fund. Last month the company announced the $46 million purchase of a 206-unit complex in Long Beach, and in December it paid $42 million for the 312-unit Parcwood Apartments in Corona. Western National expects to close its third fund in the next few months. LaPointe said the firm has targeted properties in strong markets with good job growth. "We've bought the properties in areas we think will do quite well," he said. "Southern California is always going to remain a focus for us." Website design firm buys Newport office Golden Comm, a website design firm in Costa Mesa, has acquired a 10,000-square-foot office building in Newport Beach for $2.3 million. The building, located across the street from the Newport Beach Golf Course at 3420 Irvine Ave., was previously owned by Braemar Development Co. It was built in 1979. Troy Wooton, principal with BroadStreet Real Estate Group, represented the buyer. Gary McArdell, senior vice president and principal with Lee & Associates, represented theseller. The Newport Beach office market is faring better than the county overall, according to a recent report by data provider CoStar Group Inc. In the fourth quarter, the submarket had a vacancy rate of 10.4 percent, lower than Orange County's rate of 13 percent. Asking rents in Newport Beach were $27.29 per square foot compared to the county's $22.23 rate. Irvine business center building trades hands Robert's Property Enterprises LLC has purchased a building in Irvine's Vantage Business Center for $2.4 million. The 14-year-old building, which includes 4,825 square feet of office space and 5,500 square feet of industrial, is located at 8697 Research Drive. Gerald Leonard with Keller Williams Realty represented the buyer. Mehdi Taghiei with Pacific Premier Real Estate represented the seller.