Advanced Real Estate Acquires Multifamily Property In Irvine From Essex Property Trust

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.