The private Frankel Family Trust of Orange County, CA is the buyer. The seller is GE Capital Investment Advisors, which purchased the complex three years ago for $33.6 million. The local office of Hendricks & Partners negotiated the sale.
The complex, called Palisades, stands at 13440 N. 44th St. Though some communities in the Valley area suffered from a glut of rentals in the 1990s, the region's vacancy factor has started to fall and rents in many areas are rising.
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