Essex Property Trust has sold Essex Skyline at MacArthur Place, a two-building, 350-unit community in Santa Ana, Calif., for $239.6 million.
The sale was announced in the firm’s recent transaction activity release.
The new owner was not listed, but the Orange County Business Journal reported it to be an unnamed Miami-based real estate developer.
Essex Skyline at MacArthur Place comprises two 25-story towers located near downtown Santa Ana and John Wayne Airport. The buildings are considered the tallest structures in the city.
Essex Property Trust sold Highridge, a 255-unit property in Rancho Palos Verdes, Calif., for $127 million. On the acquisition side, the company spent $345 million to purchase three assets in Northern Ca
