Multifamily real estate investment trust AvalonBay Communities has sold a Los Angeles-area apartment complex it purchased in 2016 at a $10 million loss, even as the property garnered a score of bids and a market “scarcity premium” that executives have placed at the core of the company’s transaction strategy.
AvalonBay Takes $10 Million Loss on Los Angeles Apartments
Company Sells Complex It Bought in 2016 as Part of Strategy To Reinvest in Sun Belt
By Jon Leckie
CoStar News
June 6, 2024 | 8:13 P.M.
RELATED ARTICLES
This news story is available exclusively to CoStar subscribers.
Watch the video to learn how you can access industry leading CRE news and the data analytics you need to drive success.
This news story is available exclusively to CoStar subscribers.
Ready to Learn More?
Sign Up For a Personalized Demo.
Sign Up For a Demo To Learn More.
Already A Subscriber? Sign In
IN THIS ARTICLE
- Properties
- Hue North Hollywood
5077 Lankershim Blvd, North Hollywood, CA
- Companies
- AvalonBay Communities, Inc.
Real Estate
- Marcus & Millichap
Real Estate