By: Paul Bubny for connectcre
CBRE arranged the sale of two multifamily properties totaling 24 units for $7.61 million in northern Orange County to two separate buyers. In the first transaction, EVP Dan Blackwell and associate Amanda Fielder represented the buyer in the sourcing and acquisition of a 16-unit multifamily property located at 1801 & 1809 E. Wilshire Ave. in Fullerton.
The off-market transaction had a sale price of $4.2 million. The buyer was based in Los Angeles County. The Orange County-based seller was exchanging into a Delaware Statutory Trust (DST).
According to Blackwell, the sale of 1801 & 1809 E. Wilshire is the largest apartment transaction in Fullerton this year and marks the property’s first change of ownership in 40 years.
