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Valentia’s Strong Price, Quick Close Speak to Health of the North Orange County Market
The Valentia Apartment Homes, a class-A multifamily community consisting of 335 market-rate units in the North Orange County submarket of La Habra, recently sold for $182.5 million. The buyer was GID.
Voit’s Joe Leon represented the sellers, a joint venture between Northwestern Mutual and Fairfield Residential, and also procured the buyer.
“The strong price and quick close of this sale speak to the health of the North Orange County market. This extremely high-quality asset was built 2017 and could not be replicated today due to scarcity of available sites in this supply-constrained submarket,” says Leon. “Valentia Apartment Homes is the only multifamily property constructed in La Habra over the past 20 years.”
CoStar forecasts rents will grow 5.4 percent annually for the next two years.
“Based on the community’s strategic location and best-in-class design, we were able to ultimately source a buyer who understood the value of this core/core plus asset,” says Leon.
Valentia Apartment Homes is located at 951 S. Beach Blvd. in La Habra, CA.
- ◦Sale/Acquisition
