Sequoia adds Alize Apartments to growing portfolio of luxury coastal properties

WALNUT CREEK, Calif., May 26 /PRNewswire/ -- Sequoia Equities, Inc. today announced the acquisition of the Alize Apartments located in Aliso Viejo, a master planned community in Orange County, California.

Built in 1999, this 484 unit luxury apartment community totals 442,684 square feet, and includes 11 three-story residential buildings and three single story buildings containing a management office, fitness facility, and clubhouse. The property is located in the master planned community of Aliso Viejo, which encompasses 6 square miles and situated in southern Orange County, California.

Sequoia Equities' President and CEO, Mark Carter says, "In 2003, we purchased the sister-property, the Alicante Apartments, so we understand the market. The opportunity to purchase the Alize property is an outstanding investment and will be a valuable addition to our portfolio of luxury coastal properties."

The acquisition of Alize Apartments for $75,000,000 was funded with Fannie Mae financing, and a $17.3 million equity partnership. Sequoia Equities will assume day-to-day operational management of the property.

    For further information, please call:

    Jill Bourque
    (415) 845-4314
    Paiz Public Relations

About Sequoia Equities

Founded in 1973, Sequoia Equities, Inc. (SEI) is a real estate investment management company. SEI offers two investment strategies for institutional investors and accredited investors: The Core Strategy provides conservative exposure to a stable real estate portfolio of Class A multifamily real estate. The Deep Value Strategy provides opportunistic returns over the next 3-7 years in deep value distressed real estate. With over $1.6 billion under management and annual revenues over $145 million, SEI is one of the largest privately held multifamily real estate companies in California.

SOURCE Sequoia Equities, Inc.