California-based Western National Realty Advisors has completed the acquisition of Seacrest Luxury Apartments, a 368-unit institutional-quality apartment community by paying $95.44 million, GlobeSt reports. The affiliate of Western National Group property purchased the apartments from an affiliate of Trecap Partners through the Western National Realty Fund II, the firm’s second private equity fund.
Seacrest Luxury Apartments was originally constructed in 1988. On the transaction, the seller was represented by Ray Eldrige and Kevin Mulhern of CB Richard Ellis, whereas Western National represented itself.
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