Essex Property Trust added another Southern California property to its portfolio earlier this year. According to a recent 8-K filing, the firm acquired the Hacienda at Camarillo Oaks in Camarillo. The 73-unit property was acquired in April of 2023 for $23.1 million, or about $316,438 per unit. Public records indicate that the property was sold by an entity linked to Coast Farms, Inc.
Situated at 811 Paseo Camarillo, the property is home to a mix of one- and two-bedroom apartment units, ranging in price from $2,092 to $2,834 per unit, according to the property’s website.
The property sits next to its sister apartment community, Camillo Oaks, allowing residents access to amenities at both sites. Amenities at the two properties include swimming pools, a fitness center, a barbecue area and more.
Hacienda at Camarillo Oaks is also within close proximity of various shopping and dining amenities. The Camarillo community is also closely situated to coastal cities like Oxard and Ventura and has easy access to Interstate 101.
Essex Property Trust is a fully integrated real estate investment trust focused on multifamily residential properties across the west coast. According to information from the firm, Essex currently has ownership interests in 252 apartment communities comprising approximately 62,000 apartment homes with an additional property in active development.
Earlier this year, Essex Property Trust also sold off a large student housing community in Goleta. As The Registry previously reported, the firm sold a 239-unit student housing asset near the University of California, Santa Barbara for $91.7 million, or about $383,577 per unit. The property was acquired by Chicago-based investment and development firm Core Spaces. The property, CBC & The Sweeps, is located at 6721 El Colegio Road and traded during the first quarter of the year.
