Alex Mogharebi represented Rancho Avenue Limited Partnership and the buyer, LA-based Colton Properties II LLC, from the Ontario office of Marcus & Millichap Real Estate Investment Brokerage Co.
Southern California investors continue to bank on multifamily property, as the dual factors of limited space and a booming population have kept the Southland's apartment market performing strongly.
G.H. Palmer Associates has recently announced that it will build a 297-unit multifamily complex in Los Angeles, as reported last week by GlobeSt.com. The facility, known as the Orsini complex, will rise on a three-acre parcel bounded by Sunset Boulevard, Figueroa Street, and the intersection of the Harbor (110) and Hollywood (101) freeways.
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