Greystar Acquires Pacific Court Apartments In Long Beach For $84.2M

The Pacific Court Apartments in Los Angeles have been sold for a staggering price of $84,200,000. This mixed-use property is located at 250 Pacific Avenue in the Long Beach market. The transaction took place on April 18, 2018, with South Carolina-based Greystar acquiring the property from the Meruelo Group.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $84,200,000
• Address: 250 Pacific Avenue, Los Angeles
• Market: Long Beach
• Units: 211
• Price per Unit: $399,052

The sale of Pacific Court Apartments was facilitated by Bob Faith from Greystar and Alex Meruelo from the Meruelo Group. This deal marks a significant acquisition for Greystar, as the Pacific Court Apartments offer not only residential units but also 35,000 square feet of retail space. The property also features amenities such as a 400-vehicle underground garage, fitness center, dog wash, business center, and even a poker room.