Local Investors Picking Up Life Insurance Co.’s Assets

Warmington Homes Expands Business to Fee Management; Faris Lee Opens on East Coast

A slew of apartment complex sales by Milwaukee’s Northwestern Mutual Life Insurance Co. has proven to be a big source of business for local investors this month.

Laguna Niguel-based Raintree Partners LLC recently bought 204 apartments in Silicon Valley from an affiliate of Northwestern. It’s the first acquisition for Raintree, which was formed in 2007 and has $200 million in funding.

The deal—for the Trellis Square Apartment Homes in Sunnyvale—traded hands for $38.3 million, or about $188,000 per square foot. The property’s 95% full...

OCBJ: Local Investors Picking Up Life Insurance Co.’s Assets (free registration required)