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Real Estate/Development

Nov. 2, 1999

Oakwood Newport North Apartments sell for $62 million

The 732-unit Oakwood Newport North Apartments in Newport Beach has been purchased by Essex Property Trust, a Palo Alto-based real estate investment trust. The seller was R&B Realty Group, Los Angeles. The purchase price was $62 million.

The 732-unit Oakwood Newport North Apartments in Newport Beach has been purchased by Essex Property Trust, a Palo Alto-based real estate investment trust. The seller was R&B Realty Group, Los Angeles. The purchase price was $62 million.
Joe Leon, Ray Eldridge and Tyler Anderson of CB Richard Ellis, Newport Beach, represented the buyer and the seller along with Dennis Danielian and Jesse Goldstein of TCI Properties in Redwood Shores.
The sale of Oakwood Newport South, a...

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