Four Local Complexes Trade for 3M; Falling Per-Unit Prices, Debt Assumptions
After a slow start to 2023, Orange County's multifamily market is seeing more interest from investors, who paid a combined $413 million across four...
After a slow start to 2023, Orange County's multifamily market is seeing more interest from investors, who paid a combined $413 million across four separate deals in Laguna Niguel, Santa Ana, Huntington Beach and Placentia the past month. That said, pricing for the deals suggests buyers' valuations for higher-end properties in the area have fallen of late, with per-unit prices in one case running nearly $100,000 less than what was seen during the peak of the pandemic. A pair of the sales also involved the assumptions of loans tied to properties that were made under far more favorable interest rate terms, according to property records.