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6/21/17
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A five-property retail portfolio in Laguna Beach was acquired by 4G Ventures in a $32.9 mil deal.
The portfolio includes: an eight-unit oceanfront luxury vacation rental property called Sunset Cove Villas, located at 683 Sleepy Hollow Lane; a mixed-use housing property at 775-793 Laguna Canyon; the Seven-Degrees event center at 891 Laguna Canyon; a mixed-use apartment and storefront retail property at 689 South Coast Highway; and a residential lot located at 615 Griffith Way.
CBRE’s Nathan Holthouser represented the buyer, a local real estate investor. Holthouser, along with Brad and Sara Hinman, two of the founding partners of Hom Sotheby’s International Realty, and Jim Batlle of Coldwell Banker Commercial, also repped the seller, a private partnership.
The portfolio consisted of complex and unique properties that required both residential and commercial expertise. According to Holthouser, the buyer was a well-qualified, 1031-exchange buyer that understood the intrinsic long-term value of the portfolio.
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