Northmarq’s Shane Shafer and Bryan Schellinger have completed the $27 million sale of Sherry Lane Garden Apartment Homes in Santa Ana, CA. The complex, located at 1920 Sherry Lane, is comprised of 62 single story, two-bedroom units, situated on a 6.3-acre parcel.
Northmarq represented the seller, Montgomery Partners, which had completed various enhancements over the last few years, including a comprehensive renovation of the unit interiors. The buyer plans to expand the renovation program.
“This sale was significant because it shows that despite volatility in the debt markets, buyers are still seeking quality buildings in superior submarkets,” said Shafer in a news release.
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.