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Essex Property off-loads Calif. apartment complex for $83M

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Essex Property off-loads Calif. apartment complex for $83M

Essex Property Trust Inc. sold The Madrid apartment complex in Mission Viejo, Calif., to privately owned investor Acacia Capital for $83 million, the Orange County (Calif.) Register reported.

The property contains 230 units measuring 992 square feet on average.

A CBRE team handled the transaction, according to the publication.