HUNTINGTON BEACH, CA—Berkadia closed recenlty on the sale of Artisan Apartments, a 277-unit multifamily property located at 15555 Huntington Village Lane in Huntington Beach.
Senior directors Shane Shafer and Peter Hauser of the Irvine office negotiated the sale, which closed at $87.5 million on December 10, 2015. The seller was Kennedy Wilson and the buyer was Domino Realty Management Company, Inc., both based in Beverly Hills. The sale price reflects a per-unit price of $318,181. Additionally, managing director Allan Freedman of Berkadia's Los Angeles office assisted with the assumable financing.
"Quality of life, the strong job market and healthy apartment operations continue to support robust investment activity in the Orange County multifamily market," said Keith Misner, head of investment sales. "Activity is brisk in the area, so Berkadia's regional team of investment advisors and mortgage bankers collaborated quickly to execute this deal on time for both the buyer and the seller."
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
