Terms of the deal were not disclosed, but industry sources familiar with the deal said the buyer paid $455,000 per unit, or $85 million, for the complex on the north side of Wilshire Boulevard near Glendon Avenue not far from UCLA. The transaction was a direct deal between buyer and seller.

Dennis Cavallari, an Irvine, Calif.-based senior vice president of Foster, City, Calif.-based Legacy, tells GlobeSt.com that the property was 95% occupied at the time of the sale, with rents ranging from $2,400 to $6,100 and unit sizes ranging from 744 to 1,800 sf. The 187 units include 43 one-bedroom, one-bath apartments; 104 two-bedroom, two-bath units; and 40 three-bedroom, two-bath units. It features hardwood floors, Berber carpets, granite counter tops, marble entry ways and master baths, valet parking, a concierge and other amenities.

Legacy built the six-story complex, which has three floors of underground parking, in the late 1990s on what was one of the few remaining vacant parcels of land available for development in Westwood. It developed the project in partnership with the AFL-CIO Building Investment Trust.

Cavallari tells GlobeSt.com that Legacy has a number of other apartment projects either under way or in various stages of planning and development in the Los Angeles area. They include a 276-unit complex nearing completion in Studio City, a 530-unit development along the water in Marina del Rey, a project in pre-development on Wilshire Boulvard in the Miracle Mile district and a development at Hollywood and Vine. The company has developed more than 30,000 apartment units in California, approximately half of them in Southern California.