Surf at 39 interior Surf at 39 was originally constructed in 1972 and consists of two- and three-bedroom apartments and townhomes.

HUNTINGTON BEACH, CA—Institutional-fund manager Interstate Equities Corp. has acquired Surf at 39, a 400-unit, coastal-infill multifamily asset here, for $134 million from an unnamed seller. IEC intends to upgrade units to meet tenant needs but keep the complex as a workforce-housing community.