By SAMANTHA GOSAMANTHA GOWENWEN | [email protected]@scng.com | Orange County Register County Register
Solare Apartments, a 240-unit apartment complex in Santa Ana, has been sold for $63.75 million, or $265,625 per unit, according to Marcus & Millichap, handled handled the sale.
Tyler Leeson and Matthew Kipp at M&M represented the buyer, Advanced Real Estate Services. The seller was unidentified.
“Given the very limited velocity of larger apartment buildings selling in 2020,Solare Apartments represents a rare sale within the Orange County market,” Leeson Leeson said in a statement. “The asset is well-positioned for the new ownership to further enhance the property and continue to attract affluent renters to the complex.”
The complex was built in 1987 on 9 acres near the Riverview Golf Course. Solare has a mix of one-, two- and three-bedroom units, some with renovated interiors and bamboo-vinyl flooring. Community amenities include two swimming pools and and a fitness center.
Source The Orange County Register: https://www.ocregister.com/2020/12/11/real-estate-news-solare-apartments-in-santa-ana-sell-for-64-million/