The properties are the 85-unit Barranca Vista Apartments at 2900E. Virginia Ave. in West Covina and the 67-unit Belamar Apartmentsat 401 S. Hoover St. in Los Angeles, which the company bought for$8.05 million and $5.3 million respectively. The seller of the WestCovina property was L&S Management Co., while the seller of theLos Angeles complex was Fairfield Residential. Larry Andrews ofSperry Van Ness represented the buyer and the seller of theBarranca Vista, with Jim Ferris of Marcus & Millichaprepresenting both parties in the other deal.

The Barranca Vista Apartments were built in 1968 and consist of18 two-story buildings with one-, two- and three-bedroom apartmentsat an average size of 1,241 sf and rents ranging from $788 to$1,320. The property features a recreation room, a sauna, aswimming pool and a spa, and gated parking. The units are equippedwith central heat and air conditioning, and dishwashers. Debtfinancing was provided by RFC, and Sherman Oaks based StratusManagement Inc. will manage both the Barranca and the Hoover Streetproperty in Los Angeles.

The Belamar Apartments, in the Mid-Wilshire area of Los Angeles,were built in 1972 and consist of a three-story building withstudio, one- and two-bedroom units that average 620 sf. The complexfeatures a swimming pool and a spa, central heat and airconditioning, underground parking, elevators, and privatebalconies. Rents range from $800 to $1,375. Transamerica providedfinancing, with assistance from Gary Mozer and Lee Norman of GeorgeSmith Partners.