Volaris and Viva Agree to Merge, Creating Mexico’s Largest Low-Cost Airline Group 
Trump Administration Reviews Nvidia H200 Chip Sales to China, Marking Major Shift in U.S. AI Export Policy 
Google and Apple Warn U.S. Visa Holders to Avoid International Travel Amid Lengthy Embassy Delays 
U.S. Lawmakers Urge Pentagon to Blacklist More Chinese Tech Firms Over Military Ties 
LG Energy Solution Shares Slide After Ford Cancels EV Battery Supply Deal 
OpenAI Explores Massive Funding Round at $750 Billion Valuation 
ANZ New CEO Forgoes Bonus After Shareholders Reject Executive Pay Report 
7-Eleven CEO Joe DePinto to Retire After Two Decades at the Helm 
Toyota to Sell U.S.-Made Camry, Highlander, and Tundra in Japan From 2026 to Ease Trade Tensions 
Oracle Stock Surges After Hours on TikTok Deal Optimism and OpenAI Fundraising Buzz 
Citi Appoints Ryan Ellis as Head of Markets Sales for Australia and New Zealand 
Boeing Seeks FAA Emissions Waiver to Continue 777F Freighter Sales Amid Strong Cargo Demand 
Dina Powell McCormick Resigns From Meta Board After Eight Months, May Take Advisory Role 
Elon Musk Wins Reinstatement of Historic Tesla Pay Package After Delaware Supreme Court Ruling 
Bridgewater Associates Plans Major Employee Ownership Expansion in Milestone Year 
Roche CEO Warns US Drug Price Deals Could Raise Costs of New Medicines in Switzerland 
Oracle Stock Slides After Blue Owl Exit Report, Company Says Michigan Data Center Talks Remain on Track 
IRVINE, Calif., Aug. 29, 2017 -- Sperry Commercial Global Affiliates today announced the successful closing of Garden Grove Manor Apartments in Garden Grove, California, for $13.2 million. Frank Dinari of Sperry’s Irvine office represented the seller, Garden Grove Manor, Inc., and the buyer in the transaction.
Built in 1971, Garden Grove Manor Apartments consists of 78 cooperative apartment units. The community sits on Bolsa Avenue between Ward and Starboard Street in the City of Garden Grove. Unique to this transaction is the fact that this property was originally built and designed as a cooperative community, whereby each resident is an individual shareholder and not a tenant. Upon close of escrow, the property will be converted into an affordable housing community and the residents who qualify under the California Income Level Tax Credit program will then become tenants. Unlike New York, cooperative properties are extremely rare in California.
“We generated 18 offers and ultimately selected a local Orange County affordable housing developer as the final buyer,” said Frank Dinari, senior vice president at Sperry Commercial. “The property’s class C designation, ideal location, and unit mix all make it a superior investment opportunity for the buyer,” Dinari added.
About Sperry Commercial Global Affiliates, LLC: Sperry Commercial Global Affiliates, LLC strives to offer the highest level of commercial real estate services available through thoughtful, cooperative, and ethical practices. The firm is headquartered in Irvine with more than 15 independently owned and operated offices located throughout the Western United States. Unique to Sperry Commercial Global Affiliates, LLC are a system of tools for affiliates that include a comprehensive real estate intranet and transaction management platform named Sperry CENTRAL and a custom designed marketing support software system called SperryLINK, among other immediate industry advantages. For more information, visit www.sperrycga.com.
Contact: Jessica Thompson Phone Number: 949-233-8575 Email: [email protected]
