Dean Zander of the Encino office of Hendricks & Partners, who represented both the buyer and the seller, says the buyer is a private investment group that owns and operates several other Southern California and Texas apartment buildings. Forest Glen acquired the property from the Irvine-based Bascom Group.
The Forest Glen complex consists of 17 buildings at 20258 Cohasset Street in the Winnetka area of the San Fernando Valley, near Canoga Park. The garden-style complex was built in the 1970's and consists primarily of townhouses of two and three bedrooms, The complex includes swimming pools, an exercise room, a two-story clubhouse and a leasing office. Seller Bascom, which upgraded and renovated the property during its ownership, bought the complex in 1999 in a deal brokered by Zander.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
