Decron Properties has acquired Alura for $79 million. The property is a 250-unit apartment complex in Warner Center in Woodland Hills. With this acquisition, Decron has 8,234 units.

Built in 1977, Alura offers a mix of studio, one, two and three bedroom homes and represents a strong value-add opportunity. Decron will initiate a significant capital improvement plan to modernize the property's interior units and its exterior common areas.

The Warner Center area is undergoing a massive transformation into a live-work-play community. The property puts residents within walking distance of just under 63,000 jobs—making it one of the largest employment hubs in the San Fernando Valley—as well as 3.4 million square feet of retail and entertainment outlets.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.