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January 09, 2019

Waterford Buys Newport Beach Portfolio for $31M

Commercial Property Executive

IvyLee Rosario

Waterford Residential - a subsidiary of Waterford Property Co. - has acquired Dover Heights Apartment Homes, a multifamily assemblage in Newport Beach, Calif., for $30.6 million. This marks historic numbers, as most rental housing stock of this size and larger in the area is institutionally owned. The transaction includes nine adjacent, contiguous lots encompassing almost an entire city block, which sold for $463,000 per unit or $474 per square foot.

For the full story, go to the Multi-Housing News.

2019 - Multi-Housing News

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