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| The Enclave apartments, 13801 Paramount Boulevard, Paramount, CA |
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| Greg Harris |
PARAMOUNT, CA – Institutional Property Advisors (IPA), a
division of Marcus & Millichap specializing in serving institutional and
major private real estate investors, is pleased to announce the sale of The Enclave, a 306-unit apartment complex
in Paramount, Calif. The $61.1 million sales prices equates to $200,000 per
unit.
IPA
executive vice presidents investments Greg
Harris and Ron Harris, along
with IPA directors Kevin Green, Joseph
Grabiec and Paul Darrow, and associate director Michael DiSimone, advised
the seller, Kennedy Wilson.
The buyer is Bridge Investment Group Holdings, and
its joint venture partner Starr Companies, a global insurance and investment
organization.
“The Enclave’s distinctive architectural touches and
consummate amenity package differentiate it from the competitive product in the
area and make it one of the premier multifamily investment assets in southeast
Los Angeles County,” says Greg Harris.
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| Ron Harris |
Built in 1991 on 4.7 acres at 13801 Paramount Blvd. in
Paramount, Calif. the property features easy access to California State Route
91 and interstates 105, 605 and 710, and is close to Downey, Lakewood,
Bellflower, Norwalk and Cerritos. Four local Metro lines are also nearby.
Major employers in the area include the County of Los
Angeles, RMI International, Kaiser Permanente, Bellflower Medical Center, St.
Francis Medical Center and Lakewood Regional Medical Center.
Apartments at The Enclave feature nine- and 10-foot
ceilings, interior and exterior storage space, large walk-in wardrobe-style
closets, private balconies/patios and deep oval-shaped soaking tubs.
Select units have gas fireplaces. Community amenities
include a 24-hour fitness center, a resort-style swimming pool, spa, sundeck,
Internet cafe with flat-screen monitors and printers, subterranean 656-car
parking structure with remote access, and on-site laundry facilities.
For a complete copy
of the company’s news release, please contact:
Gina Relva
Public Relations Manager
(925) 953-1716
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