IPA Handles Trade of 1,190 Units in L.A. Area
San Diego-based MG Properties Group acquired a four-property multifamily portfolio in Lancaster, CA, from a private investor for $91.75 million, or approximately $77,101 per unit. The four assets include the 416-unit Cordova Park, 320 units at Granada Villas, 314 units at Sienna Heights and 140 units at Woodland West for a total of 1,190 apartment units.
The buildings were built between 1984 and 1990. All four properties are within close proximity of Lancaster's BLVD district, which features retail, cinemas and restaurants.
Greg Harris, Ron Harris, Kevin Green and Joseph Smolen of Institutional Property Advisors (IPA) represented the seller. MGPG represented itself.
Please refer to CoStar COMPS #2567241 for more information.