Charles Dunn Co. negotiated the sale of two apartment complexes in California and completed a 1031 exchange for two retail properties in Florida and Oklahoma.

The total value of the transactions was approximately $10.4 million.

The first transactions were on behalf of two Los Angeles-area apartment building owners, who sold their properties to a local land developer, Amoroso Cos. The properties, located at 11260 Missouri Ave. and 1921 Beloit Ave., sold for approximately $3.7 million and $3.5 million, respectively.

Amoroso Cos. plans to tear down the apartment buildings by next summer and replace them with 63 condos in a four-story structure to be completed by winter 2008. With two- and three-bedroom floor plans averaging 1,500 square feet, these condos will more than double the occupancy of the previous apartment buildings.

Charles Dunn also represented Matlin Trust in the completion of a 1031 exchange to purchase a 7,860-square-foot retail property located at 8500 Argyle Forest Blvd. in Jacksonville, Fla., and 200 Norman Center Court, which is a 9,008-square-foot retail property located in Norman, Okla.

Both the Florida and Oklahoma properties sold for approximately $1.6 million each.

At the time of sale, the Florida property was occupied by Childtime Learning Center, a network of private childcare facilities with 260 locations nationwide. The Oklahoma property was home to a Pier 1 retail store.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription