The properties, which encompass a total of 195 units, are located on Paseo del Rey, Redlands St., Manchester Ave., Falmouth Ave. and Delgany Ave. At the time of sale, the properties were 97% occupied.
The buildings sold at a premium based on the rent potential and savings in management costs due to the close proximity of the properties, according to Albert R. Shilton, a Charles Dunn Co. broker who worked on the deal. "Those were the key issues for the buyer," Shilton says.
Shilton, Dick Dunn and Theresa Dunn, all from Charles Dunn Co., represented the seller, Marina del Rey-based William H. Hannon 1983 Trust. Craig Stevens of Kosmont Realty Corp. and Josh Fein and Tom Spear of Property Management Associates represented Regent.
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