Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LOS ANGELES-A private investment group has paid $36 million for a 298-unit apartment complex here, as investors continue to quickly snap up the relatively few rental properties that are placed on the market.

The development, known as the St. James Apartments, stands at 1710 N. Fuller Ave. It was acquired by a California private partnership known simply as St. James Apartments LLC.

The property was sold by privately held GTS Property. Shane Astani of Lambert Smith Hampton represented both sides in the transaction.

Most experts agree that the apartment sector has been the best-performing segment of LA’s commercial real estate sector over the past year or two, and many say that strength will continue well into the future because construction still badly lags demand. But few large projects have been put up for sale in recent months, in part because many current owners are enjoying nearly double-digit annual returns on top of steadily rising property values.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. APARTMENTS Fall 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.