AGOURA HILLS, CA–Intercontinental Real Estate Corp., in joint venture with MG Properties, has acquired The Lexington Apartments, a 178-unit apartment community in the Southern California community of Agoura Hills for $87.3 million from a Calabasas-based real estate development and investment firm.
Built in 1986, The Lexington offers a mix of one- and two-bedroom apartment homes in 11 two-story residential buildings on a 15-acre site at 30856 Agoura Road. The seller has renovated 100% of the unit interiors have been renovated over the past five years.
Agoura Hills is in the Conejo Valley, 35 miles west of Downtown Los Angeles and encompassing northwest Los Angeles County and southeast Ventura County. It includes Agoura Hills, Oak Park, Westlake Village, Newbury Park and Thousand Oaks. Amgen, Teradyne, Dole Foods, JD Power, Farmers Insurance and the Los Angeles Rams all have regional or corporate headquarters in the Conejo Valley.
Recommended For You
The joint venture has a 3,200-unit multifamily portfolio consisting of eight communities in first- and second-ring suburban markets outside of Los Angeles, Denver, Phoenix, Portland, San Diego and the Bay Area. In February, the joint venture acquired a 394-unit garden-style multifamily community in the Denver submarket of Aurora, CO for $143 million.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
