September 28, 2005
Manhattan Beach, CA — Ruxton Pacific, L.L.C. completed its purchase of 27 tentative mapped, attached townhome units in the highly desirable Los Angeles South Bay community of Redondo Beach from C & K Homes, Inc. for an undisclosed amount. The project consists of 11 buildings grouped in duplexes and triplexes on 1.31 acres located at the corner of Ruxton and Rockefeller Lanes in Redondo Beach, CA. Robert Dunne of GW Realty Co. represented both the Buyer and Seller in the transaction.
Ruxton Pacific, L.L.C. bought the "turnkey" project intending to increase their 2006 closings. The quick escrow closed with the project fully approved and in plan check, with the Buyer able to pull a grading permit and start work immediately. The California Limited Liability Corporation is part of a Manhattan Beach based development and builder group with numerous projects currently under construction or in development within the South Bay market area of Los Angeles.
The Seller, C & K Homes, Inc., bought the commercial property for development purposes and was responsible for designing, planning and obtaining the Tentative Map approvals, as well as securing a zoning amendment, conditional use permit and Planned Development approval from the appropriate governmental agencies. Although C & K Homes Inc. had originally purchased the underlying land with the intention of building out the site, they quickly became a Seller when presented with multiple aggressive offers by Mr. Dunne.
GW Realty Co. specializes in real estate brokerage and valuation consulting with an emphasis in residential land throughout Southern California, and has over $1.5 billion in transactions since 1993. A non-traditional real estate firm, GW Realty Co. concentrates their efforts on key relationships with a select group of clients and properties. Due to the decreasing supply of available development properties, GW Realty Co. is continually searching for and finding development opportunities.
Working from GW Realty Co.'s Manhattan Beach office, Robert Dunne specializes in these types of hard to find in-fill opportunities throughout Los Angeles County. For additional information regarding this transaction or other Los Angeles County opportunities, please call Robert Dunne at (310) 546-2222 or contact Mr. Dunne via email at robert@dirtdeals.com.