Steadfast Companies Announces Completion of Sale of Marin Club.

220-unit apartment community was sold for $13.1 million.

NEWPORT BEACH, CA -- December 31, 2001 -- Steadfast Companies is pleased to announce the closing of Marin Club, located at 2241-2263 W. Valley Boulevard in Pomona, CA. The 220-unit apartment community was sold for $13,100,000. The seller was Steadfast MCA, LLC of Newport Beach, CA, and the buyer was Aslan Marin Club, LLC of Irvine, CA. Both parties were represented by Brian Hawkins of the Newport Beach office of Hendricks & Partners, and Margie Molloy of the Inland Empire office of Hendricks & Partners.

About Steadfast Companies
As a diversified organization, the Steadfast Companies acquire, develop and manage real-estate properties within the continental United States, Hawaii and Mexico. With corporate offices in Newport Beach, Steadfast’s main operating company is Steadfast Properties & Development Co., Inc., whose staff of more than 570 employees coordinates the administrative, accounting and support services for its three divisions – Multi-Family, Commercial, and Hospitality. In addition to its development and management activities, Steadfast supports several non-profit community foundations that offer supplemental and social services designed to improve the lives of children and families in the communities where its properties are located.

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