TruAmerica Snags Santa Ana Apartments for $103M – Robert Khodadadian
TruAmerica Multifamily expanded its Southern California portfolio with the $102.9-million acquisition of Nineteen01, a 264-unit apartment asset located at 1901 E. 1st St. in Santa Ana. The Class A property, which was acquired in partnership with PCCP, LLC at a significant discount to replacement cost, was developed in 2016.
Noah Hochman, Co-CIO and head of capital markets for TruAmerica, said, “Nineteen01 offers a multitude of investment drivers relating to its prime location, including its proximity to major freeways providing convenient access to all of Orange County.”
Robert E. Hart, founder, CEO and president of TruAmerica, said, “The city of Santa Ana is undergoing significant revitalization, including the development of the nearby Santa Ana Regional Transportation Center, a planned streetcar system, and a proposed state-of-the-art soccer stadium. We believe this property fits nicely with the city’s plans for the future.”
Shane Shafer of NorthMarq brokered the transaction.
The post TruAmerica Snags Santa Ana Apartments for $103M appeared first on Connect CRE.
TruAmerica Multifamily expanded its Southern California portfolio with the $102.9-million acquisition of Nineteen01, a 264-unit apartment asset located at 1901 E. 1st St. in Santa Ana. The Class A property, which was acquired in partnership with PCCP, LLC at a significant discount to replacement cost, was developed in 2016. Noah Hochman, Co-CIO and head of capital …
The post TruAmerica Snags Santa Ana Apartments for $103M appeared first on Connect CRE.
Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.
robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate