Updated Oct 12, 2026
Advanced Real Estate Acquires Multifamily Property In Irvine From Essex Property Trust
2300 Dupont Dr, Irvine, CA, USA
$57,500,000
$2,203/SF
Building Size
26,100 SF
Asset Type
MultiFamily
Closing
Feb 25, 2021
About this deal
AI
The multifamily property located at 2300 Dupont Dr. in Irvine was recently sold in a transaction. The property consists of 115 units and was sold for a price of $57,500,000. The buyer of the property was Advanced Real Estate, while the seller was Essex Property Trust. Joe Leon, Michael Thagard, and Jeff Rowerdink served as the brokers in the deal representing the respective parties. The sale took place on February 26, 2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $57,500,000
- Address: 2300 Dupont Dr.
- Market: Irvine
- Units: 115
- Price per Unit: $500,000
The transaction involved notable individuals and companies. The buyer, Advanced Real Estate, made the acquisition, while the seller, Essex Property Trust, sold the property. Joe Leon, Michael Thagard, and Jeff Rowerdink represented the buyer and seller as brokers in the deal.
On the Map
$57,500,000
$2,203/SF
MultiFamily
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Los Angeles 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
0.28%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93