The development, known as Valley Country Club Apartments, stands at 15353 Weddington St. It was acquired by privately held Pacific Property Co.
Chris Thompson of Investment Real Estate Associates represented Pacific Property Co. The seller, private investor Lou Kestenbaum, spoke for himself.
The rental market in Sherman Oaks and most other parts of the San Fernando Valley has been strong over the past several months, with a dearth of new apartment construction helping to push vacancies lower and rents higher.
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