{"id":1004033455,"date":"2011-10-21T06:25:35","date_gmt":"2011-10-21T14:25:35","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004033455"},"modified":"2022-12-04T20:51:44","modified_gmt":"2022-12-05T04:51:44","slug":"western-national-spends-95m-on-orange-county-apartment-complex","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/western-national-spends-95m-on-orange-county-apartment-complex\/","title":{"rendered":"Western National Spends $95M on Orange County Apartment Complex"},"content":{"rendered":"<p><strong>October 21, 2011<\/strong><br \/>\n<em>By Nicholas Ziegler, News Editor<\/em><br \/>\n<a class=\"highslide\" href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/10\/102111-Seacrest-for-release-1.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004033456\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/western-national-spends-95m-on-orange-county-apartment-complex\/102111-seacrest-for-release-1\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/10\/102111-Seacrest-for-release-1.jpg\" data-orig-size=\"650,392\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"102111 &#8211; Seacrest-for release 1\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/10\/102111-Seacrest-for-release-1.jpg?w=650\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/10\/102111-Seacrest-for-release-1.jpg\" alt=\"\" title=\"102111 - Seacrest-for release 1\" width=\"300\" height=\"180\" class=\"alignright size-medium wp-image-1004033456\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/10\/102111-Seacrest-for-release-1.jpg 650w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/10\/102111-Seacrest-for-release-1.jpg?resize=300,181 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>As credit continues to tighten for single-family homes, the market for multi-family apartment properties has been moving in the inverse direction. Following the trend, Western National Group has acquired the 368-unit Seacrest Luxury Apartments in San Clemente, Calif., for $95.4 million. The property was purchased from an affiliate of TRECAP Partners &#8212; represented by CBRE Group, Inc. &#8212; through the Western National Realty Fund II L.P.<\/p>\n<p>Calling the acquisition \u201ca true win for our investors,\u201d Rex DeLong, president of Western, discussed his firm\u2019s pursuit of high-quality multi-family properties in California. \u201cSeacrest\u2019s solid location in Orange County, with its high barriers to entry, is the type of project we are seeking in the market,\u201d he said. <\/p>\n<p>According to a report by Cushman &amp; Wakefield Inc., the Orange County multi-family market boasted the country\u2019s tenth-lowest vacancy rates in the second quarter of 2011, at 4.7 percent. Furthermore, a report by CBRE Group, Inc. showed a continual improvement in multi-family properties, with apartment vacancies down to their levels of mid-2008, just 30 basis points above the historical norm. <\/p>\n<p>The complex, constructed in 1988 and renovated in 2009, is 97 percent leased across its 25-acre property. <\/p>\n<p>\u201cWe are actively pursuing the acquisition of additional well located, high quality existing properties, as well as ground up development opportunities throughout the Southern California market,\u201d DeLong said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Western National Group has acquired the 368-unit Seacrest Luxury Apartments in San Clemente, Calif., for $95.4 million from an affiliate of TRECAP Partners. <\/p>\n","protected":false},"author":1201,"featured_media":1004033456,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21742,15],"tags":[],"class_list":["post-1004033455","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-latest","category-west"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Western National Spends $95M on Orange County Apartment Complex - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/western-national-spends-95m-on-orange-county-apartment-complex\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Western National Spends $95M on Orange County Apartment Complex\" \/>\n<meta property=\"og:description\" content=\"Western National Group has acquired the 368-unit Seacrest Luxury Apartments in San Clemente, Calif., for $95.4 million from an affiliate of TRECAP Partners.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/western-national-spends-95m-on-orange-county-apartment-complex\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2011-10-21T14:25:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-05T04:51:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/10\/102111-Seacrest-for-release-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"650\" \/>\n\t<meta property=\"og:image:height\" content=\"392\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nicholas Ziegler\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/western-national-spends-95m-on-orange-county-apartment-complex\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/western-national-spends-95m-on-orange-county-apartment-complex\/\",\"name\":\"Western National Spends $95M on Orange County Apartment Complex - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/western-national-spends-95m-on-orange-county-apartment-complex\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/western-national-spends-95m-on-orange-county-apartment-complex\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/10\/102111-Seacrest-for-release-1.jpg\",\"datePublished\":\"2011-10-21T14:25:35+00:00\",\"dateModified\":\"2022-12-05T04:51:44+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/ff3a837f33daecfcf8978b405eaae20c\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/western-national-spends-95m-on-orange-county-apartment-complex\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/western-national-spends-95m-on-orange-county-apartment-complex\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/western-national-spends-95m-on-orange-county-apartment-complex\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/10\/102111-Seacrest-for-release-1.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/10\/102111-Seacrest-for-release-1.jpg\",\"width\":\"650\",\"height\":\"392\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/western-national-spends-95m-on-orange-county-apartment-complex\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Western National Spends $95M on Orange County Apartment Complex\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/ff3a837f33daecfcf8978b405eaae20c\",\"name\":\"Nicholas Ziegler\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/70e28229c24dc3cf14fac93ebb7647505c7519b301aa20c8f635957a4e8a8a66?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/70e28229c24dc3cf14fac93ebb7647505c7519b301aa20c8f635957a4e8a8a66?s=96&d=mm&r=g\",\"caption\":\"Nicholas Ziegler\"},\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/nicholasziegler\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Western National Spends $95M on Orange County Apartment Complex - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/western-national-spends-95m-on-orange-county-apartment-complex\/","og_locale":"en_US","og_type":"article","og_title":"Western National Spends $95M on Orange County Apartment Complex","og_description":"Western National Group has acquired the 368-unit Seacrest Luxury Apartments in San Clemente, Calif., for $95.4 million from an affiliate of TRECAP Partners.","og_url":"https:\/\/www.commercialsearch.com\/news\/western-national-spends-95m-on-orange-county-apartment-complex\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2011-10-21T14:25:35+00:00","article_modified_time":"2022-12-05T04:51:44+00:00","og_image":[{"width":650,"height":392,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/10\/102111-Seacrest-for-release-1.jpg","type":"image\/jpeg"}],"author":"Nicholas Ziegler","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/western-national-spends-95m-on-orange-county-apartment-complex\/","url":"https:\/\/www.commercialsearch.com\/news\/western-national-spends-95m-on-orange-county-apartment-complex\/","name":"Western National Spends $95M on Orange County Apartment Complex - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/western-national-spends-95m-on-orange-county-apartment-complex\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/western-national-spends-95m-on-orange-county-apartment-complex\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/10\/102111-Seacrest-for-release-1.jpg","datePublished":"2011-10-21T14:25:35+00:00","dateModified":"2022-12-05T04:51:44+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/ff3a837f33daecfcf8978b405eaae20c"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/western-national-spends-95m-on-orange-county-apartment-complex\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/western-national-spends-95m-on-orange-county-apartment-complex\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/western-national-spends-95m-on-orange-county-apartment-complex\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/10\/102111-Seacrest-for-release-1.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/10\/102111-Seacrest-for-release-1.jpg","width":"650","height":"392"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/western-national-spends-95m-on-orange-county-apartment-complex\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Western National Spends $95M on Orange County Apartment Complex"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/ff3a837f33daecfcf8978b405eaae20c","name":"Nicholas Ziegler","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/70e28229c24dc3cf14fac93ebb7647505c7519b301aa20c8f635957a4e8a8a66?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/70e28229c24dc3cf14fac93ebb7647505c7519b301aa20c8f635957a4e8a8a66?s=96&d=mm&r=g","caption":"Nicholas Ziegler"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/nicholasziegler\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/10\/102111-Seacrest-for-release-1.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004033455","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/1201"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004033455"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004033455\/revisions"}],"predecessor-version":[{"id":1004624045,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004033455\/revisions\/1004624045"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004033456"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004033455"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004033455"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004033455"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}