Northmarq Closes $34M Sale of Buena Park Multifamily

Northmarq’s Shane Shafer arranged the $34,375,000 sale of Cypress Village Apartments in Buena Park. Shafer represented the seller, Priya Living, in the sale, which equated to $390,625 per unit.

“The Cypress Village sale shows the continued interest into 2024 for Orange County multifamily,” said Shafer, managing director in the Irvine Investment Sales office. “These quality Orange County locations like Buena Park are in high demand for investors, are highly sought after and rarely trade. Orange County continues to be at the top of the lists for investors seeking consistent and stable returns with great market fundamentals.”

Northmarq’s San Francisco Debt + Equity team arranged $19.7 million in acquisition financing for the buyer. The team was led by managing director Nate Prouty and VP Briana Harney DeHaan with support from Andrew Deaver and Soraya Rios.

“The borrower had a tight timeline to meet their financing contingency and we were able to lock rate and proceeds in eight days,” said Harney DeHaan.

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