Real Estate Partners Inc. of Irvine paid $87.5 million to JP Morgan Investment Management Inc. for the 368-unit Seacrest Apartments at 240 Avenida Vista Montana in San Clemente (see Real Estate column, page 70). The apartments sold for $238,000 each. Real Estate Partners represented itself. Sean Deasy, Bob Patterson and Ryan Fitzpatrick of CB Richard Ellis Group Inc. represented the seller.
Whittle Investors-State College LP paid $4.1 million to Southland Industries for a 13,337-square-foot office building at 17941 Fitch in Irvine. The building sold for about $310 per square foot. Thomas McAllister and James Wootan of CB Richard Ellis represented the buyer.
Orange-based software developer Principal Decision Systems International Inc. paid $4.1 million to Sho-Air for a 14,000-square-foot office building at 50 Corporate Park in Irvine. The company, which makes work force and scheduling software, plans to move to the building in December. Karen Sunday of Karen Sunday & Associates represented the seller. John Collins and Ewan Choate of Voit Commercial Brokerage LP represented the buyer.
Los Vaqueros LLC paid $1.6 million to the Garen P. Hanlon Trust for a 9,311-square-foot industrial building at 10843 Los Vaqueros Circle in Los Alamitos. The building sold for about $170 per square foot. Matt Wagner of Penta Pacific Properties represented the buyer. David Cox of Ashwill Associates represented the seller.
