IRVINE, Calif. (August 23, 2022) – MBK Rental Living is delighted to have successfully executed the sale of Blue Oak, a 142-unit Class A luxury apartment and townhome community in Paso Robles, California, to a private Los Angeles owner. The sale reflects the strong performance of the apartment homes due to economic growth in California’s Central Coast.
Opened in 2019, the 12.2-acre luxury apartment community consists of one-, two-, and three-bedroom units and a 3,077-square-foot four-bedroom detached single-family residence. Blue Oak’s long list of amenities include an open floor plan clubhouse; outdoor spaces with seating and open lawn areas with a fire pit and barbeques; resort-style pool and spa; fully equipped 24-hour fitness center; resident garden; playgrounds; and basketball court. Residents also enjoy some of the largest homes in the market with high ceilings, well-appointed interior finishes along with in-unit washer and dryer, and direct access garages in select homes.
Paso Robles offers residents an excellent quality of life surrounded by natural beauty in the heart of the central coast’s wine country while allowing easy access to San Francisco and Los Angeles. Residents have access to a variety of amenities including a world-class wine scene and are within a five-minute drive to Downtown Paso Robles, Hunter Ranch Golf Course, and Sensoria – a 15-minute walk-though art exhibit illuminating the natural beauty of the countryside.
“Paso Robles is a growing Central Coast city with a rich history set against a backdrop of vineyards, olive orchards, farms, and ranches. Inspired by the local culture, this was a special opportunity that we turned into a wonderful community, from the design and spacious accommodations to the apartment and townhome composition,” said Ken McCarren, President of MBK Rental Living. “With Blue Oak, MBK Rental Living has once again demonstrated its great range, which combined with our hallmark product quality drives a lot of value for residents.”
The CBRE team of Stewart Weston, Dean Zander, Jefrey Henderson, and Jon Teel represented MBK Rental Living in the sale.
About MBK Rental Living
MBK Rental Living is active in the acquisition and development of apartment communities. The company’s mission is to be the preeminent lifestyle developer focusing on creating communities that deliver value for their residents, partners, and investors. Throughout its more than 30-year history, MBK has earned a reputation for delivering award-winning customer satisfaction in housing that is innovative in design, comfort, sustainability, and craftsmanship, all at an excellent value. MBK Rental Living is a division of MBK Real Estate Ltd., the U.S. real estate development arm of Mitsui & Co., Ltd., a global trading and investment company with a diversified business portfolio. MBK Real Estate’s companies span a wide spectrum of real estate development including apartments, industrial, and their senior housing divisions. MBK Rental Living is headquartered in Irvine, California. Corporate offices are located at 4 Park Plaza Suite 1700, Irvine, CA 92614; or visit their website at www.MBKRentalLiving.com
