Briarwood Square changes hands

San Francisco investor purchases Orange County apartments

Marcus & Millichap arranged the sale of the 194-unit Briarwood Square Apartments in Stanton, Calif. The value of the transaction was $24.6 million. Briarwood Square Apartments is located at 7545 Katella Ave. The class B garden-style property was constructed in the 1970s and encompasses 173,088 rentable square feet. The unit mix is comprised of 80 one-bedroom and 114 two-bedroom apartment homes, ranging in size from 686 to 1,088 square feet. A Napa, Calif.-based private investor sold the property to San Francisco-based Carmel Partners. At the time of sale, occupancy was in the mid-90 percent range. Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage. *** Send a Letter to the Editor for publication.Send a comment or news tip to our newsroom. Please include the headline of the story....