Agents Handled the Acquisition in a Quick 35-Day Close

Orange County, CA – Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, recently completed the transaction of a 20-unit 12,400 square foot multifamily building located at 8361 15^th Street, Westminster, CA. The $5.3M deal closed at just under a four percent cap rate. Matthews™ agents Christian Espinoza,  David Harrington, and Chad Kurz alongside Randall Mycorn of RLM Equities represented the buyer.

The agents completed the deal in a quick 35-day close. The buyer secured a significant price reduction to improve, reposition, and sell the property. The property is within the Orange County region, an affluent community with over three million residents.

“This deal showcases the importance of managing expectations for both the buyer and seller to execute the highest price possible with the best terms for both parties!” said Espinoza.

The apartment is in an activity-packed community off the Garden Grove Freeway, just eight miles off the coast of Huntington Beach. The seller’s motivation was to maximize on the current value of the property and cash out due to the high-interest rate environment and CRE values softening as a result.

“We utilized the Matthews™ approach of the relentless pursuit of succeeding to perform at the highest level to accomplish the goals of both parties,” said Espinoza.

For more information, or to contact agents, please visit www.matthews.com.

About Matthews™

Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Founded in El Segundo, CA, and strategically positioned with over 400 agents and support staff in over 14 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.

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Kaylee Stock
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