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4/07/25
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Dunbar Real Estate Investment Management has purchased, a 28-unit multifamily property in Orange County, for $11.15 mil ($398k/unit). Built in 2021, the asset was sold by La Terra Development, the original developer of the property.
Located at 1628 La Mirada Blvd in La Mirada, the highly amenitized boutique community is situated in a suburb bordering Los Angeles and Orange County. The developer added an array of artistic touches, creating a unique residential community. The recently constructed, premier luxury residences offer comfort, style, and a sophisticated lifestyle with high-end finishes and thoughtfully designed amenities.
Joe Leon and Nick Ingle with Voit Real Estate Services represented LaTerra Development, a self-storage and multifamily investment and development company out of Marina del Rey with a $3 bil portfolio. The buyer was repped by Dean Zander of Newmark.
The buyer, a private equity firm specializing in repositioning commercial real estate properties that has acquired millions of square feet of industrial, multifamily, and office assets throughout Southern California and Phoenix, Arizona, will rebrand the property as The Reserve of La Mirada.
“The asset is a true trophy property and is poised to be a market leader in the submarket for years to come,” said Zander. “With an ideal location and luxury appointments, this property offers the new ownership a platform for durable growth and strong long-term returns.”
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