CT Realty invested more than $1.4 million in upgrades during its ownership. Improvements included painting, upgraded landscaping, roof work, construction of a fitness room, plus upgrades to the apartment interiors.

The Los Arbolitos Apartments are located at 1825 Foothill Blvd. near the junction of the 10 and 57/210 freeways. The property was 95% occupied at the time of sale. The extension of the 210 Freeway to Interstate 15 is near completion adding to the site's attractiveness.

Marc Renard of Cushman & Wakefield's downtown Los Angeles office represented CT Realty in the transaction. The pension fund was represented by Todd Darling of Lend Lease Real Estate Investments' San Francisco office. The Los Arbolitos sale marks the second disposition for CT Realty over the last few weeks. Earlier this year, CT Realty sold the Baywood Villa Apartments in Corona, Calif., for $55 million. The two transactions combined sold for more than $75 million.