Newport’s CT Realty Buys Luxury Units

CT Realty Corp., a Newport Beach real estate development and investment firm, has acquired Sea Pointe Villas, a 72-unit luxury apartment community in Costa Mesa, for $7.9 million, the company said Wednesday.

The units, on Village Way near Harbor Boulevard and Adams Avenue, were purchased from Los Alisos Development Co. of Newport Beach.

CT Realty, which has 2,735 units throughout Southern California, is planning to renovate the property, adding new carpeting and appliances, said Raymond Polverini, a vice president. (Daryl Strickland)