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LOS ANGELES-A private investment group has paid $7.3 million for a 128-unit apartment complex in the San Fernando Valley community of Pacoima.

The building stands at 12326 Foothill Boulevard and is known as Lakeview Terrace Apartments. It was purchased by Steadfast Lakeview Terrace.

The complex was sold by an affiliate of Spieker Cos., the big real estate investment trust based in Menlo Park. Dean Zander of Hendricks & Partners represented the seller, while his Hendricks & Partners colleague Mark McDonald represented the buyer.

Separately, a Spieker spokesperson says its previously announced, $7-billion acquisition by REIT giant Equity Office Properties should formally close sometime in late June or July.

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