Oasis Anaheim, formerly known as The Crossing, was acquired by RedHill in a joint venture with Crow Holdings Capital in 2018. The property had been marketed in the earlier part of the year and did not clear market pricing set by Blackrock, the selling entity.
Uniquely, the release of the asset into the market for disposition was mis-timed as the Trump administration had introduced tax legislation, coinciding with increases in treasury rates. Onerous prepayment penalties also dissuaded potential buyers from pursuing the acquisition given early market pricing guidance at $110 Million.
Despite not trading the property possessed strong fundamentals and during a marketing pause, RedHill pursued and consummated the transaction off market directly with Blackrock.
Based on certain assumptions, Monte Carlo analysis gave a 94% probability of an 18-20% levered IRR after renovation, providing high risk adjusted returns to investors. The transaction was concluded in excess of $100 Million US.
Acting as its own Oasis, it will not only be a destination but a state of mind. With vibrant energy and ample space, here you can work, play and live as your most authentic self.
Oasis, now proudly featuring a true resort-poolside setting.
Front entrance into the Oasis Leasing Center.
Oasis townhome section and tower.
Our unit renovations included the replacement of all cabinets with Italianinspired horizontal custom wood grain, installation of matte black hardware, geometric backsplash, and new Energy Star stainless steel applainces.
Eliminating the dated arched stairway and typical business center, we created a leasing center that would be the ultimate gathering spot for residents.
