Bixby Ranch Sells 212 Units

Security Properties Inc. acquired the 212-unit Channel Point Apartments at 5926 Bixby Village Drive in Long Beach from Bixby Ranch Co. for more than $31 million. John Walsh of Marcus & Millichap represented the buyer. The seller was represented by Stephen Algermissen, Stuart Milligan and Stephen Somer of Cushman & Wakefield.

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JS Northpointe LP bought the 138,591-square-foot Northpointe Office Park at 15621-15661 Redhill Ave. in Tustin from UBS Realty Advisors of Hartford, Conn., for $21.5 million. Gregg Herbert and Jeff Hanson of Grubb & Ellis represented the buyer and the seller.

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The Bascom Group of Irvine acquired the 163-unit Shadow Springs Apartments at 20700 San Jose Hills Road in Walnut from Shadow Springs Apartment Co. for $13.3 million. The buyer was represented in-house by Scott McClave and by Udi Katz of Multi-Housing Realty, who also represented the seller.

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Bayport Lake Hills Associates bought the 44,797-square-foot Lake Hills Plaza at 23141 Moulton Parkway in Laguna Hills from P.O.P. Lake Hills, a partnership between Laguna Niguel-based Birtcher Realty and an affiliate of GMAC Commercial Mortgage, for $7.7 million. Mike Meisenbach of Lee & Associates represented the buyer and the seller.

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The Automobile Club of Southern California bought a 68,708-square-foot industrial building at 14700 Hoover St. in Westminster from SRG Westminster for $6.3 million. The seller was represented by Ian Britton, Brad Bierbaum, Brian DeRevere and Bob Goodmanson of CB Richard Ellis. The buyer was represented by Mark Larson and Gary Stache, also of CB Richard Ellis.

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The Abbey Co. bought the 82,010-square-foot La Mirada Business Center at 14670-14770 E. Firestone Blvd. in La Mirada from RREEF for $5.9 million. The buyer and seller were represented by Steve Batcheller, Rick McGeagh, Darla Longo and Barbara Emmons of CB Richard Ellis.

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Brentwood Holdings Partners acquired a 54-unit apartment complex at 1413-1417 N. Vista St. in Los Angeles from Hollywood Vista Apartments Ltd. for $5.6 million. John Walsh of Marcus & Millichap represented the buyer and the seller.

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CT Realty Corp. of Newport Beach sold the 47,000-square-foot Rockfield Plaza office property at 23832 Rockfield Road in Lake Forest to DeCarion Trust of Newport Beach for nearly $4.9 million. CT Realty was represented by John Griffin of Voit Commercial Brokerage. David DeCarion of Portola Investment represented the buyer.