California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Avison Young Executes $27M 1031 Exchange Involving Multiple SoCal Assets
Avison Young negotiated a strategic 1031 exchange of four properties with a total transaction value of $26.9 million. The complex process involved the sale of a three-property, multifamily/mobile-home portfolio that included 66 apartment units and 171 mobile-home spaces in SoCal.
The exchange buyer then traded into Madison Avenue Plaza, a 70,749-square-foot office property at 27270 and 27290 Madison Ave. in Temecula, CA, for $15.1 million.
Avison Young’s Peter Hauser, Matt Hauser and Masa Ito represented the San Diego-based private investor seller of the portfolio.
Avison Young’s Matt Shaw, Corey Martin, and Stan Nowak represented the seller of Madison Plaza, an affiliate of Encinitas, CA-based Providence Capital Group Inc., as well as the buyer in the upleg of the 1031 exchange.
Peter Hauser says, “The private-investor client had identified Madison Avenue Plaza as a desired upleg, and was looking to sell its management-intensive multifamily assets and trade into a single, stabilized investment property.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition




