Newport Beach real estate company sets record

CT Realty Corp., based in Newport Beach, has sold the Baywood Villa

Apartments in Corona for $55 million, setting the record for the highest

price paid for an apartment community in Inland Empire history.

The real estate investment and development firm sold the apartments to

GTS Properties Hollywood Inc. of Rolling Hills Estates.

“After the completion of our renovations and upgrades, the property

became even more marketable,” said Raymond A. Polverini, vice president

of CT Realty. “In addition, Baywood offers a great choice of floor plans,

as well as excellent on-site amenities, including one of the most

outstanding recreational facilities in the area.”

CT Realty has completed more than 100 transactions since its

establishment in 1994 and focuses on acquiring well-located properties.