The four-building complex, which is located at 9901 Lurline Ave., was sold by Pacific Property Company of Palo Alto. The property was 95 percent occupied at the time of sale.
The sale price sets a new high for the North San Fernando Valley apartment market, according to Phil Shuster, Southern California Regional Director for Pacific Property Company.
Managing Team Partner Bill DuBrowa along with Baron Jones, Dave Casper and Bruce Furniss of Grubb & Ellis represented the buyer and the seller in the transaction.
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