Marcus & Millichap Brokers $34.8M Sale of Age-Restricted Complex in Orange County, California

by Jeff Shaw

RANCHO SANTA MARGARITA, Calif. — Marcus & Millichap (NYSE: MMI) has arranged the sale of Buena Vida at Town Center, a 115-unit age-restricted community in the Orange County city of Rancho Santa Margarita.

A private investor sold the property to an undisclosed buyer for $34.8 million, or $302,000 per unit.

Built in 2006 on more than three acres, the three-story property is located directly across the street from Central Park in Rancho Santa Margarita, near the Santa Margarita Parkway, and approximately one-half mile from California State Route 241.

Tyler Leeson and Alex Mobin of Marcus & Millichap represented the seller. Leeson, Mobin and David Yeh, senior associate, procured the buyer. Alexander Garcia Jr. and Christopher Zorbas of Marcus & Millichap’s Institutional Property Advisors (IPA) division also provided representation, along with Tyler Martin and Mathew Kipp.

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