Colliers International Sells 30-Unit Apartment Complex in Costa Mesa, Calif. for $4.525 Million
Costa Mesa, CA – November 16, 2011 – (RealEstateRama) — Colliers International just sold a 30 unit apartment complex located at 1884 Monrovia Ave., Costa Mesa, Calif. The transaction is valued at $4.525 million. Pat Swanson, Vice President, based in Colliers International’s Irvine office, closed this deal.
The Buyer and Seller were both private individuals.
The property is located in the prime West Costa Mesa area and offers security gated entry, carports, pool and on-site laundry.
“What made the property so attractive was its proximity to the Beach (1.35 Miles), and the 150 bases points of positive leverage the Buyer would receive based on the Actual CAP rate of 5.91%, and the 4.41%, 5 Year Fixed Interest Rate,” said Swanson.
About Colliers International
Colliers International is the third largest commercial real estate services company in the world with 12,500 professionals operating out of more than 500 offices in 61 countries. A subsidiary of FirstService Corporation (NASDAQ: FSRV; TSX: FSV and FSV.PR.U), it focuses on accelerating success for its clients by seamlessly providing a full range of services to real estate users, owners and investors worldwide, including global corporate solutions, brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and research. Commercial Property Executive and Multi-Housing News magazines ranked Colliers International as the top U.S. real estate company and the latest annual survey by the Lipsey Company ranked Colliers International as the second most recognized commercial real estate brand in the world.
Since 1908, Colliers has stood at the forefront of the Los Angeles real estate industry. Today, Colliers operates seven offices throughout Greater Los Angeles, including Downtown Los Angeles, Orange County, Inland Empire, South Bay, San Fernando Valley, Santa Clarita and Commerce. Follow us at www.twitter.com/colliersgla.
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Angela S. Hwang
Regional Marketing Coordinator | Greater Los Angeles
Dir +1 213 532 3258 | Mob +1 310 867 4105
Main +1 213 627 1214 | Fax +1 213 327 3258
angela.hwang (at) colliers (dot) com
Colliers International
865 S Figueroa St., Suite 3500 | Los Angeles, CA 90017 | USA
www.colliers.com
