Guy K. Hays Of Legacy Partners Acquires Multifamily Property In Azusa From Adam Morris For $91.75M

A 320-unit apartment complex located at 801 East Alosta Avenue in Azusa has been sold for $91.75 million, equating to $286,719 per unit. This multifamily asset was acquired by Guy K. Hays from Azusa Pacific University. Mesa West Capital facilitated the transaction by providing $68.5 million in financing. The property has been rebranded as Citrus Place and is noted for being the largest multifamily sale in the San Gabriel Valley during the second quarter of 2025.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $91,750,000
• Buyer: Guy K. Hays - Legacy Partners
• Seller: Adam Morris - Azusa Pacific University
• Lender: Mesa West Capital
• Units: 320
• Price Per Unit: $286,719
• Market: Azusa

This transaction reflects a growing trend among investors seeking value-add rental opportunities in a market characterized by a 4.1% vacancy rate and increasing rents. The commitment from Mesa West Capital signifies confidence in the asset's future performance and the ongoing demand for multifamily living in the region.