AGOURA HILLS, CA–Intercontinental Real Estate Corp., in joint venture with MG Properties, has acquired The Lexington Apartments, a 178-unit apartment community in the Southern California community of Agoura Hills for $87.3 million from a Calabasas-based real estate development and investment firm.

Built in 1986, The Lexington offers a mix of one- and two-bedroom apartment homes in 11 two-story residential buildings on a 15-acre site at 30856 Agoura Road. The seller has renovated 100% of the unit interiors have been renovated over the past five years.

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