Institutional Property Advisors Brokers $100m Sale of Ventura County Multifamily Asset

Institutional Property Advisors Brokers $100M Sale of Cypress Point Apartments in Ventura County

Institutional Property Advisors (IPA), a division of Marcus & Millichap, dedicated to serving the company’s institutional clients, announced the $100 million sale of Cypress Point, a 268-unit multifamily property in Ventura, California. “Cypress Point is a low-density, value-add opportunity asset that had been owned and maintained by the original developer since 1990,” said Kevin Green, […] The post Institutional Property Advisors Brokers $100M …

County Center Sells Cypress Point Apartment Community in Ventura, California for $100M

VENTURA, CALIF. — County Center LP has completed the disposition of Cypress Point, an apartment complex in Ventura. Raintree Properties acquired the asset for $100 million, or $373,134 per unit. Built in 1990 on 14 acres, Cypress Point offers 268 apartments spread across 28 two-story residential buildings. First-floor units feature nine-foot ceilings and second-floor units have up to 12-foot vaulted ceilings. All apartments offer extra storage s…