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 space, dishwashers, large closets and window coverings. Community amenities include a barbecue and picnic area, fitness center, clubhouse and covered parking.
Kevin Green, Joseph Grabiec and Gregory Harris of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the transaction.