Greenwood & McKenzie Lands 116-Unit Tustin MF for $41 Million

Asset manager and real estate investor Greenwood & McKenzie has completed the acquisition of Terra at Tustin, a 116-unit multifamily property located at 1151 Walnut Ave, in Tustin, CA, on behalf of private investor Patrick F. Cadigan. Financing was provided by Capital One Multifamily Finance. Greenwood & McKenzie will manage the property on behalf of Cadigan.

Situated on 4.72 acres with 92,760 of rentable space, the two-story gated community was built in 1969. The property is just one mile north of The District at Tustin Legacy, and features a mix of one and two bedroom units.

According to Greenwood’s Jim McKenzie, “Terra at Tustin is a high-quality multifamily community that has recently received nearly $1 million in upgrades to its units and common areas. We believe this property is well-positioned to attract a strong resident base of highly-educated, high-income tenants.”

For comments, questions or concerns, please contact Chris Egger