New owner takes reins at California apartment complex

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Marcus & Millichap brokered the sale of Camarillo Apartments, a 165-unit multifamily community in Camarillo, Calif. The value of the transaction was $35.5 million. The property is located at 390 Paseo Camarillo and was constructed in 2003. The community's seven three-story buildings sit on approximately 6.2 acres. Amenities include a swimming pool with spa, an outdoor barbecue area and a fitness center. The one- and two-bedroom units range from 685 square feet to 1,032 square feet. A Southern California-based seller sold the property to Cornerstone Real Estate Advisers. Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage. *** What's your opinion? Send your Letter to the Editor to