February 22, 2017 Comments Off on South Bay Multifamily Trades for $75M Views: 481 California News, Los Angeles

South Bay Multifamily Trades for $75M

Los Angeles-based CityView sold Solimar, a 204-unity apartment community in Wilmington, CA, for $75 million. The final asset in CityView Los Angeles Fund I was acquired by an undisclosed private investor.

Located at 1500 W. Pacific Coast Hwy., the property was developed on a former eight-acre site that once held two used car lots. The property is adjacent to the Harbor Park Municipal Golf Course and the Ken Malloy Harbor Regional Park, as well as Harbor College.

CityView’s Sean Burton said, “I am pleased that this dynamic project capped the successful completion of the Los Angeles Fund portfolio.”

In total, the fund built or renovated more than 2,500 housing units in 21 projects in SoCal.

Read more at Business Wire

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