FPA Multifamily

Suburban L.A. Apartments Sell for $45.5Mln

Gelt Inc. has paid $45.5 million, or $196,121/unit, for the 232-unit Monterra Ridge apartments in Santa Clarita, Calif., about 35 miles northwest of Los Angeles. The seller was FPA Multifamily of San Francisco. Marcus & Millichap brokered the transaction.

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