Rutan Helps Western In $95M Housing Complex Deal With Trecap

Law360, New York (October 20, 2011, 4:55 PM EDT) -- A private equity fund of real estate firm Western National Group acquired a luxury apartment complex in California from investment firm Trecap Partners LLC for $95.5 million, the company said Thursday.

Western National Realty Advisors bought the 368-unit complex in San Clemente, Calif., claiming that the rental properties' location and luxury status will generate solid returns for investors.

“The opportunity to acquire this community is a true win for our investors,” said Rex DeLong, president of Western National Realty Advisors.

The Seacrest Luxury apartments property was...
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