The 104-unit property, formerly known as Rancho PalisadesApartments, has been acquired by Pacific Property Co. The new ownerhas renamed the complex Missions at Back Bay and has alreadystarted renovations, which are valued at more than $1.3 million.The renovation project, which is expected to take between 12 to 18months to complete, will include exterior and interiorimprovements, according to Phillip Shuster, the managing directorof Pacific Property's Southern California operations.

Interior refurbishments have already begun on areas includingbathrooms, kitchens and lighting. Exterior renovations will includechanges to the pool, landscaping and roofs. A fitness center willbe added, Shuster says.

The seller, Rancho Palisades LLC, was represented by Randall Leeof Lily Enterprises. Pacific Property Co. was represented by JohnThomas of Providence Realty Group.

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