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Essex Property Trust has sold Essex Skyline at MacArthur Place, a two-building, 350-unit community in Santa Ana, Calif., for $239.6 million.

Skyline came online in 2008 as a condominium property. Two years later, an Essex joint venture paid $128 million for the asset, converting it to multifamily. In 2012, Essex purchased the partner’s share for $85 million, assuming full ownership.

Rising 25 stories at 15 MacArthur Place, Skyline’s two towers are the tallest structures in Santa Ana. The downtown area and John Wayne Airport are some 4 miles away. Several parks can be found within walking distance.