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Irvine investor acquires Long Beach apartments for $46 million

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Irvine developer Western National Realty Advisors bought a 206-unit apartment complex in Long Beach for $46 million.

Western National bought the property at 1613 Ximeno Ave. from Archstone, a Colorado apartment developer and operator. The new owners named the complex built in the 1980s the Landing at Long Beach.

Western National plans to update the 145,000-square-foot garden-style complex, said Jerry LaPointe, vice president of Western National Realty Advisors, an affiliate of apartment investor Western National Group.

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The acquisition is the sixth in Western National’s Fund II, La Pointe said. “We are actively pursuing additional acquisitions.”

This story was reported by Times Staff Writer Roger Vincent.

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