The biggest multifamily sale in Los Angeles County so far this year is Greystar’s April acquisition of a Glendale property, according to Los Angeles County tax assessor records through June 23. Boca Raton-based developer Mill Creek Residential, in partnership with investment firm Rockwood Capital, sold Modera Glendale, a 235-unit apartment building at 600 North Central Avenue, for $126 million or $536,000 per unit. The new owner renamed the property The Adeline. The buyer is listed as 1031 Exchange Professionals, a 1031 exchange intermediary specializing in the facilitation of tax-deferred exchanges of business and investment property led by David Kuns. The […]
This article originally appeared on The Real Deal. Click here to read the full story.
Powered by WPeMatico