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Heard on the Beat / Debora Vrana

Costa Mesa Apartments Sold for $17.5 Million

August 21, 1996|Debora Vrana | Debora Vrana covers real estate for The Times. She can be reached at (714) 966-5979 and at debora.vrana@latimes.com

In one of Orange County's largest property sales so far this year, Bay Apartment Communities, a San Francisco REIT, has purchased a 258-unit apartment complex in Costa Mesa for $17.5 million.

In a separate transaction, Walnut Business Center in Fullerton was purchased by EastGroup Properties in Jackson, Miss., for $8.1 million. The property is a warehouse complex of two buildings originally built in 1966 and then expanded and renovated in 1990. It is 100% leased to four tenants. EastGroup Properties is a publicly traded real estate investment trust.

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