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Raintree Partners Acquires 268-Unit Cypress Point Community In Ventura From County Center LP For $100M
SOLD
$100,000,000
California
See Similar DealsMultiFamily
Sold 08/27/2025
SOLD
Raintree Partners Acquires 268-Unit Cypress Point Community In Ventura From County Center LP For $100M
1241 Cypress Point Lane
See Similar DealsMultiFamily
Sold 08/27/2025
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,333,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$355,278.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$474,051.02
Annual Debt Service$5,688,612.21
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