LOS ANGELES—Vista Investment Group has acquired the Woodlake Manor Apartments for $44 million from Jones & Jones Management Group. This is the first time the asset has traded hands in 34 years. The property has 274 units and portions of it were upgraded last year as leases turned. Institutional Property Advisors executive director Greg Harris and senior directors Kevin Green and Joseph Grabiec represented the buyer and the seller in the transaction, and said that this sale could be a catalyst for change and growth in the market, which is still a hidden gem for investors.
SALES
DENVER—Jackson Square Properties has purchased Skye Crest, a 300-unit multifamily property in Lakewood, CO, from Fairfield Bentley LLC for $68.5 million. The 12-building property has one-, two- and three-bedroom units as well as sundeck, sports and tennis court, 24-hour fitness center, on-site dog park and clubhouse with TV lounge, kitchen and media center. HFF managing director Jordan Robbins and associate director Jeff Haag represented the seller in the transaction.
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Kelsi Maree Borland
