Updated May 12, 2025
Angela Kleiman Of Essex Property Trust Sells 350-Unit Multifamily In Santa Ana For $239.6M
15 Macarthur Place
$239,600,000
Units
350
Asset Type
MultiFamily
Closing
Apr 2, 2025
About this deal
AI
The multifamily asset involved in the transaction is located at 15 Macarthur Place in Santa Ana, comprising 350 units. It was sold for $239,600,000, resulting in a price per unit of $684,571.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $239,600,000
- Units: 350
- Price Per Unit: $684,571
- Seller: Angela Kleiman - Essex Property Trust, Inc.
- Market: Santa Ana
Angela Kleiman of Essex Property Trust, Inc. conducted the sale as part of a strategic shift towards Northern California assets. This transaction, in combination with a previous sale, has resulted in a total of $366.6 million generated for reinvestment into three newer Northern California communities valued at $345.5 million.
Santa Ana MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.07%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93