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The Oak Ridge Apartments, a 137-unit, garden-style, multifamily asset in Largo, which includes apartments and townhomes, sold for $15.9 million, or $116,350 per unit.
The California Association of Realtors issued a statement from president Jared Martin, saying it is disappointed by the passage of the bill, which moves California toward statewide rent control.
The property features 355 apartments, 20 percent of which are affordable housing units, 43,000 square feet of retail space and several public open spaces.
A hub of international business activity, Chicago is home to more than 1,800 foreign-based companies, accounting for more than $140 billion in foreign direct investment.
In this seller's market, buyers are increasingly committing non-refundable deposits, even when a seller finds an issue during the due diligence period.