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California  + Orange County  + Apartments  | 
Property sales such as the 4168-million deal for Amplifi in Fullerton, CA contributed to multifamily's banner year

AmpliFi Apartments’ $168M Price Tag is Highest Per-Unit Sale

Multifamily developer Intracorp recently sold AmpliFi Apartments, a 290-unit apartment community located at 600 West Commonwealth in Fullerton. The property was purchased by Nuveen Real Estate for $168 million, the highest price-per-unit sale of a market-rate multifamily community in Orange County, according to Brad Perozzi, president of Intracorp’s Southern California division. Perozzi adds that the long-term value of the 2019-built property was quickly demonstrated with a rapid lease-up through the height of the COVID-19 pandemic.

“While we could not have anticipated that the initial leasing of the property would occur during an unprecedented pandemic, AmpliFi successfully meeting our core demographic is the best development execution I have witnessed in 25 years,” he says. “The community reached stabilization in less than 10 months with an average of more than 30 leases per month.”

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Brad Perozzi

About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

  • ◦Sale/Acquisition
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