Oasis apartments in Anaheim sell for $146.5 million – Orange County Register
The Oasis Anaheim, a 312-unit apartment complex in Anaheim, was sold to Gelt Inc., based in Los Angeles, for $ 146.5 million, according to JLL.
A joint venture run by Redhill Realty Investors sold the property at 3530 E. La Palma Ave.
JLL’s Sean Deasy, Ryan Fitzpatrick and Chelsea Jervis represented both sides of the deal.
The two-building complex in Anaheim Canyon Mixed-Use Settlement was constructed in 2009 on 5.21 acres. Each of the buildings has a combination of lofts, townhouses, and one- and two-bedroom units averaging 937 square feet. Facilities include a pool, fitness center and yoga studio, clubhouse, business center, and barbecue grills.
“The seller has done a very good job renovating approximately 30 percent of the units in this Class A property, and Gelt plans to make similarly significant upgrades to the remaining 217 units,” said Josh Satin, Vice President of Acquisitions, Gelt.
These improvements, Satin said, include the addition of quartz countertops, stainless steel appliances, hardwood-style plank floors, tile kitchen splashbacks, undermount sinks with gooseneck taps, and modern cabinets and hardware.
NB company buys in San Diego
Orange County-based Dunbar Residential Investments has bought Sunset Cliffs Apartments in San Diego County for $ 13.6 million, according to Cushman & Wakefield, which brokered the sale.
The 52-unit complex consists of 11 buildings with one-story cottages and two-story terraced-style apartments.
The seller was Appian Lane Associates.
Mark Bridge and Jon Mitchell of the Multifamily Advisory Group of Cushman & Wakefield in Orange County represented buyers and sellers.
Buchanan is buying in Texas
Buchanan Street Partners, a Newport Beach-based real estate investment management firm, has acquired 4600 Ross, a 294-unit apartment complex in Dallas.
Conditions were not disclosed.
Buchanan bought the property from Cypress Real Estate Advisors.
4600 Ross was completed in 2020 and has 51 studio, 166 one-bedroom and 72 two-bedroom units with 5 three-bedroom terraced houses. The property was 95% occupied at the time of sale, Buchanan Street Partners said.
Amenities include air-conditioned corridors, high-end finishes throughout, a swimming pool, covered outdoor living area, locker system, fitness center, yoga studio, sky lounge, pet spa, and dog park.
The acquisition marks Buchanan’s third acquisition in Texas in 11 months.
The former home of the Trinity Broadcasting Network was sold to an Orange County real estate development company, Khoshbin Co. The company is owned by supercar collector Manny Khoshbin, who plans to renovate the campus and add a car museum, restaurant, and creative offices. (Courtesy of CBRE)
TBN campus sold for $ 22 million
The former Trinity Broadcasting Network campus in Costa Mesa was sold again, this time to Khoshbin Co. for $ 22 million, according to CBRE.
Khoshbin Co. is owned by real estate developer and supercar collector Manuchehr “Manny” Khoshbin.
The plans for the campus are still a bit fluid, Khosbhin told the registry on Friday by email. An early vision of adding an auto museum, restaurant, and creative office space could change if a tech company shows interest in the space.
Khoshbin has 2.3 million followers on Instagram, where he is often seen posting photos and videos about supercars. Car lover websites estimate that his personal car collection is worth at least $ 50 million.
The property developer and investor is buying a property that has long been known for its Christmas light decorations that illuminate Freeway 405 near South Coast Plaza.
The Christian television network bought the 6-acre facility for $ 6 million in 1996 and sold it to Greenlaw Partners in 2017 for an undisclosed amount. The property at 3150 Bear St. has since changed hands and property records indicate the seller is Alliance South Coast Properties LLC.
According to city and state documents, the LLC is owned by EFEKTA Orange Inc., an education provider based in Delaware. In 2019, the company applied to the city for an infrastructure change to create an international language school with 627 students and three dormitories on the property.
TBN founder Paul Crouch – who said he heard from God almost 45 years ago to start a Christian television station – died in 2013. His wife and co-founder Jan Crouch died in May 2016.
The network continues to broadcast from a studio in Tustin.
Anthony DeLorenzo, Gary Stache, Doug Mack, Bryan Johnson and Justin Hill from CBRE represented the seller. Khoshbin Co. was represented itself.
People in real estate
Doug Pearl has been named director of a mixed-use studio at AO, an architecture firm based in Orange. He comes to AO with more than 23 years of experience in architectural and commercial property development. His goals include expanding the company’s retail repositioning and mixed-use industrial sectors.
Julie Tran, an agent in the Berkshire Hathaway HomeServices California Properties office in Irvine, has been elected President of the Orange County Chapter of the Asian Real Estate Association of America. The group has offices across the Americas and helps real estate agents from Asia-American and Pacific Islands network and build skills.
Tangram Interiors’ Newport Beach office donated classroom desks, workstations, and work chairs to the Orange County Rescue Mission in Tustin. The products were supplied and installed by Tangram and furnished the company office and classrooms by OCRM. (Courtesy Tangram Interiors)
Good works
Tangram Interiors’ Newport Beach office donated classroom desks, workstations, and work chairs to the Orange County Rescue Mission in Tustin.
The products were supplied and installed by Tangram and furnished the company office and classrooms by OCRM. The donation includes 61 student desks. The classrooms were renovated during the 2020 pandemic so that the 61 resident students could continue to study remotely.
Workplaces and swivel chairs have been set up for adults who are currently working for OCRM in various departments at the corporate headquarters.
Real estate transactions, leases and new projects, industry recruitments, new ventures and upcoming events are compiled from press releases from contributing author Karen Levin. Email articles and high resolution photos to business editor Samantha Gowen at sgowen@scng.com. Please allow at least a week for publication. All elements are edited for reasons of clarity and length.
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