PGIM sells more Anaheim apartments for $154M

PGIM offloaded another apartment community in Anaheim five years after buying it.  H&S Ventures and Waterford Property Company acquired the 371-unit Edge Apartments from PGIM for $153.6 million, Multi-Housing News reported. CBRE’s Rachel Parsons, Derrek Ostrzyzek, Mike Murphy and Kenji Thomas represented PGIM in the sale. The price amounts to $414,000 per unit. PGIM purchased the apartments, at 1921 Union Street, from JPI in 2021 as part of a $380 million portfolio transaction. The other property in that portfolio deal was the 376-unit Rise Apartments, located across the street at 1920 Union Street, which PGIM sold to Tishman Speyer earlier […]

This article originally appeared on The Real Deal. Click here to read the full story.