Raintree Partners Acquires 268-Unit Cypress Point Community In Ventura From County Center LP For $100M

A multifamily property located at 1241 Cypress Point Lane in Ventura was sold for $100 million. The 268-unit community was sold at a price per unit of $373,134, and it maintained an average occupancy of 97.6% over the past five years.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $100,000,000
• Units: 268
• Price Per Unit: $373,134
• Buyer: Jeffrey B. Allen - Raintree Partners
• Seller: County Center LP
• Brokerage: Joe Grabiec, Kevin Green & Greg Harris - Institutional Property Advisors - Marcus & Millichap

The transaction involved notable individuals such as Jeffrey B. Allen representing Raintree Partners in the acquisition and County Center LP as the seller. The brokerage representation was provided by Joe Grabiec, Kevin Green, and Greg Harris from Institutional Property Advisors under Marcus & Millichap.