California Home Builders has acquired a 376-unit apartment complex in Playa Vista for $230M, which translates into about $614K per unit. Morgan Stanley provided a $173M loan for the purchase.

Boca Raton, FL-based Mill Creek Residential sold the multifamily, which is located at 5901 Center Drive. Mill Creek sold the property for more than seven times the $32M it paid for the apartment building in 2014. The company also renovated the units.

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