October 19, 2017
San Diego-based RedHill Realty Investors and Los Angeles-based Shelter Asset Management acquired Solterra at Civic Center in Norwalk, CA from Sares-Regis Group for more than $60 million. The 192-unit apartment complex is located adjacent to the Norwalk Civic Center at 12700 Bloomfield Ave.
RedHill plans to improve and reposition the asset in an effort to achieve full market potential, notes RedHill’s Russell Dixon. “We are excited to add another transit-oriented Southern California asset to our portfolio, and continue to seek out acquisitions in key metro areas in major cities throughout the Western U.S.” he said.
Eastdil Secured brokered the sales transaction.
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