The property, known as Nantucket, has been acquired by a joint venture between Los Angeles-based Hanover Financial Co. and Kennedy Wilson International of Beverly Hills. Hanover and Kennedy Wilson have acquired more than 1500 Southland units over the past two years. The companies' most recently formed joint venture has paid $14.3 million for the Nantucket complex.
Built in 1972, the property is located at 727 S. Lyon St. It was 93% occupied at the time of sale. Amenities include a pool, spa, volleyball court, recreational facility, play yard and laundry facilities.
The buyer, Nantucket 187 LLC, and the seller, Western National Partners LP, were both represented in-house.
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