Downey apartments fetch $40M in latest multifamily investor vote of confidence
Another multifamily property in the Los Angeles area has traded hands. Parc @ 5, a 104-unit apartment community in Downey, sold to Culver City-based investor B.A.G. Investments for $40 million, L.A. Business First reported. The previous owner, Parc @ 5 Downey LLC, purchased the development at 9140 Brookshire Avenue in 2018 for $37.5 million. The LLC is linked by address in state business records to Management One Property Management. Named after its location next to Interstate 5, Parc @ 5 is a garden-style property with 20 one-bedroom, 64 two-bedroom and 20 three-bedroom units. The multifamily complex is one of the […]This article originally appeared on The Real Deal. Click here to read the full story.
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