COSTA MIRAGE APARTMENT COMPLEX IN COSTA MESA SELLS FOR $12.9M

COSTA MESA, CALIF. — Cameron Properties has acquired the 62-unit Costa Mirage apartment community in Costa Mesa for $12.9 million. The community is located at 393 Hamilton Street.

Costa Mirage is situated east of Harbor Boulevard and west of Newport Boulevard, just above Newport Bay. Community amenities include a fitness center, clubhouse, and pool and spa. Costa Mirage is currently 95 percent leased.

Costa Mirage was purchased by CT Realty as part of the firm’s strategy to acquire several smaller Costa Mesa multifamily properties over the past few years. The firm then renovated and repositioned the properties before executing their dispositions. Costa Mirage is CT’s fourth property to be sold.

Cameron Properties represented itself in this transaction. CT was represented by Steven Brombal and Peter Hauser of Hendricks-Berkadia.