Apartment Community in Anaheim Sold

A Palo Alto real estate investment trust said Friday that it has sold its Vista Pointe Apartment Community in Anaheim for $15 million to a buyer it would not disclose.

A spokeswoman for the Essex Property Trust Inc. said the company was bound by contract to keep the name of the buyer confidential for now.

The company said in a press release that it will record a gain of $7 million from the sale of the 286-unit property. Essex also continues to hold a leasehold interest in the property and will earn management and other fees from its operations.