January 27, 2016
Los Angeles-based Decron Properties Corp. has reportedly acquired a 391-unit multifamily apartment portfolio in Thousand Oaks for $126.5 million from Prometheus Real Estate Group. Decron purchased the 249-unit Los Robles Apartments and the 142-unit Marlow Apartments, which are located near Moorpark Rd. and U.S 101.
The active value-add multifamily investor has acquired more than 1,300 units, totaling $400 million, in California investment activity. Decron also owns 1,200 units in the east Ventura County communities of Simi Valley, Moorpark, and Thousand Oaks.
Decron says it is moving to capitalize on a supply-demand imbalance. That imbalance has been created by recent population growth and limited new construction, with many being priced out of the homeownership market.