City Place Apartments

Feb 20, 2019

City Place Apartments

Arranged Sale

221-unit luxury apartment over 76,000 square feet of retail.

Downtown Long Beach, CA

The principals of HRC arranged the sale of this newly constructed “Class A” apartment project, during lease up, to an apartment REIT. The $44 million purchase price represented an approximate 5.8% cap rate on Year 1 proforma NOI.

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