Apartment City

La Mirage: hilltop site a few blocks from Qualcomm Stadium The Irvine Co. has bought an upscale apartment complex in Mission Valley — the company’s largest single-property acquisition of the year. The Newport Beach- based real estate investor and developer recently closed on the purchase of La Mirage, a 1,410- unit apartment complex just off Interstate 15. The 74- acre hilltop site is a few blocks from Qualcomm Stadium. La Mirage was bought from Chicago- based apartment owner Equity Residential . A sale price for the transaction, which was completed late last month, was not disclosed. The tab would come to about $ 350 million based on a per- apartment price of about $250,000 — the going rate for high- end rental properties in the region. That estimate would put the deal among the most expensive seen in San Diego this year. The county’s priciest real estate sale of any type this year is reported to be La Costa Resort and Spa in Carlsbad. Dallas-based Omni Hote...

CLOSE Lisa Conley gives the scoop on what we are working on today. Aventine at Naples (Photo: All Commercial Photography ) The sale of Aventine at Naples points to the strength of the East Naples market — and the growing demand for apartments.  The 350- unit apartment community off Collier Boulevard, between Davis Boulevard and Rattlesnake Hammock Road , recently sold for $67 million.  The sellers, Continental Realty Corp ., based in Baltimore, purchased the complex for $44.25 million in 2013, when both employment and multifamily rental rates were on the rise in the Naples area. More: Downtown Naples office tower sells for $16 million More: Newly built Port Royal home fetched record price this year, eclipsing last year's most expensive sale More: Local investors purchase a second building on Fifth Avenue South More: Two commercial buildings sold for $7.2 million on Fifth Avenue in Naples Continental made various upgrades to the complex, which included installing an outdoor k...

Aventura firm buys Naples rentals for $67M Advenir Inc. paid about $191,000 per unit for the 350-unit property July 23, 2017 01:00PM Aventine at Naples Aventura-based Advenir Inc. bought a 350- unit apartment property in Naples for $67 million or about $191,000 per unit. The seller, Baltimore- based Continental Realty Corporation , acquired the property, called Aventine at Naples, in 2013 for $44.3 million. The Class A apartment property at 9300 Marino Circle in South Naples is located off Collier Boulevard near Marco Island. A team at brokerage firm ARA Newmark , led by Executive Managing Director Hampton Beebe , represented Continental Realty in its sale of Aventine at Naples. During its four-year ownership of Aventine at Naples, Continental Realty completed a comprehensive upgrade of unit interiors. The Baltimore-based company also installed an outdoor kitchen and grilling area, created a fitness studio, renovated the property’s clubhouse and added a 24-hour, fully automated pac...