NEWPORT BEACH, CA-Locally based CT Realty sells the Baywood Villa Apartments, a 628-unit multifamily complex in Corona, for $55 million. This hefty price tag marks the highest amount paid for an apartment property in the region's history, according to the CB Richard Ellis brokers who represented CT Realty in the deal.

WESTMINSTER, CA-Seneca Partners of Costa Mesa snatches up the Ash Tree Apartments. The 40-unit complex is located at 14092-14102 Ash St.

COSTA MESA, CA-The Costa Mesa-based developer pays $19.3 million for the 197,306-sf Cathedral City Marketplace. The retail complex, which is anchored by Food 4 Less, Factory 2-U, 24 Hour Fitness and Cinemark Movies 10, is currently 100% leased.

NEWPORT BEACH, CA-Carneros partners will use the funds for the construction of Carneros Inn, a 96-room luxury resort hotel on a 16-acre parcel surrounded by vineyards in Napa Valley.

SAN JUAN CAPISTRANO, CA-General contractor Wermers Multi-Family Corp. wraps up repairs on Mesa Vista North, a complex developed by Mesa Vista HOA. The project involved structural repairs, a new roof, exterior painting and street and foundation repairs.

ORANGE, CA-Buchanan Urban Investors and Rawson, Blum & Leon have snapped up the regional shopping center. The pair plan to renovate the complex, which was 89% leased at the time of sale.

IRVINE, CA-EnviroSupply & Service pays $1.1 million for the building, which stands at 1791 Kaiser Ave. Completed in 1972, the one-story facility encompasses 12,905 sf.

ALISO VIEJO, CA-Framing has begun on the second phase of this $70-million multifamily project, which is scheduled for completion in early 2003. At build-out, Phase II will consist 367 units in four buildings plus a five-level parking structure.