Briarwood Square changes hands
San Francisco investor purchases Orange County apartments
By Inman News, Monday, March 1, 2004.Inman News®
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.
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