4G Ventures, a local real estate investor, acquired a five-property retail portfolio in Laguna Beach, CA from an undisclosed private seller for $32.9-million.
The portfolio includes an eight-unit oceanfront luxury vacation rental property called Sunset Cove Villas, located at 683 Sleepy Hollow Lane, a mixed-use housing property at 775-793 Laguna Canyon, the Seven-Degrees event center at 891 Laguna Canyon (pictured), a mixed-use apartment and storefront retail property at 689 South Coast Highway, and a residential lot located at 615 Griffith Way.
CBRE’s Nathan Holthouser represented the buyer, as well as the selling partnership, along with Hom Sotheby’s International Realty’s Brad and Sara Hinman, and Coldwell Banker Commercial’s Jim Batlle.
Holthouser says, “This portfolio consisted of complex and unique properties that required both residential and commercial expertise.” He notes, the well-qualified, 1031-exchange buyer understood the intrinsic long-term value of the portfolio.