This article originally appeared in Orange County Register.
September 17, 2021
The Oasis Anaheim, a 312-unit apartment complex in Anaheim, has been sold for $146.5 million to Los Angeles-based Gelt Inc., according to JLL.
A joint venture led by Redhill Realty Investors sold the property at 3530 E. La Palma Ave.
Sean Deasy, Ryan Fitzpatrick and Chelsea Jervis of JLL represented both sides of the deal.
The two-building complex in the mixed-use development Anaheim Canyon was built in 2009 on 5.21 acres. Each of the buildings has a combination of lofts, townhomes, and one- and two-bedrooms units averaging 937 square feet. Amenities include a pool, fitness center and yoga studio, clubhouse, business center and barbecue grills.
“The seller did a very nice job renovating about 30 percent of the units of this Class A property, and Gelt plans on completing similar significant upgrades to the remaining 217 units,” said Josh Satin, vice president of acquisitions with Gelt.
Those improvements, Satin said, include adding quartz countertops, stainless steel appliances, hardwood-style plank flooring, tile kitchen backsplash, under-mount sink with gooseneck faucets, and modern cabinetry and hardware.