Costa Mesa Apartments Sold for $17.5 Million
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In one of Orange County’s largest property sales so far this year, Bay Apartment Communities, a San Francisco REIT, has purchased a 258-unit apartment complex in Costa Mesa for $17.5 million.
In a separate transaction, Walnut Business Center in Fullerton was purchased by EastGroup Properties in Jackson, Miss., for $8.1 million. The property is a warehouse complex of two buildings originally built in 1966 and then expanded and renovated in 1990. It is 100% leased to four tenants. EastGroup Properties is a publicly traded real estate investment trust.
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