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CBRE Negotiates Sale of Luxury Multifamily RIZE Irvine for Record $190M

RIZE Irvine Luxury High Rise Trades for Record $190M

CBRE has negotiated the sale of luxury multifamily community RIZE Irvine, a recently-built, 363-unit mid-rise complex in Irvine, CA. Sierra Village Associates purchased the property for $190 million, which is the largest single-asset multifamily sale in Orange County since 2016, according to CBRE.

Located on Von Karman Avenue, RIZE Irvine offers high-end community amenities including a two-story fitness club, multimedia iCafe, a central plaza with pool and cabanas and private 5th floor deck. In unit features include nine-foot ceilings oversized walk-in closets and Whirlpool stainless steel appliances.

“RIZE Irvine is a luxury community thoughtfully curated with ultra-modern interiors and amenities catering to affluent residents. The average household income is nearly 25% higher than the city of Irvine,” said CBRE’s Dean Zander who represented the seller, an affiliate of Fairfield Residential. CBRE’s Stewart Weston also represented the seller and the firm’s Troy Tegeler, Ryan Greer, Trevor Breaux and CJ Connolly arranged the financing.


Inside The Story

CBRE's Dean ZanderFairfield ResidentialRIZE Irvine

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

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