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Northern California Firm Enters Market With Highest Price Paid This Year

ORANGE COUNTY, CA-Walnut Creek-based real estate firm enters the market in a big way paying the highest per-unit price this year for four apartment complexes in south county.

By Joel Cone | Updated on December 08, 2000

ORANGE COUNTY, CA-Sequoia Equities, based in Walnut Creek, has purchased four apartment complexes in south county from Simpson Housing of Denver in a deal valued at more than $100 million. The transaction is reportedly seen as the largest in terms of price paid this year.

Three of the properties, Hidden Hills, Niguel Summit and Seaview Summit are located in Laguna Niguel. The fourth property, Paloma Summit, is located in Foothill Ranch. In all, the four properties total 794 units.

Selling for around $130,000 per unit, the transaction is evidence that the demand for quality properties in Orange County remains strong despite a slowing national economy.

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