Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SANTA BARBARA, CA-A private investor from Beverly Hills has acquired the 108-unit Lucero Village here and the 58-unit Mariposa complex in Ventura for a package price of $20 million, according to Dean Zander of Hendricks & Partners.

Zander, a partner at the Encino office of Hendricks & Partners who represented both the buyer and the seller, says the new owner is Universe at Hope Ranch LLC.

The Santa Barbara complex is at 3999 Via Lucero, the Ventura complex at 10965 Del Norte. Zander notes that the private investment group owns and operates several other Southern California premium apartment buildings and had been “eager to acquire additional beach-oriented multifamily product.” The new owner plans approximately $1 million in upgrades and improvements.

The five-building, garden-style complexes were built between 1965 and 1973 and consist primarily of one- and two-bedroom units, plus several townhouse style units. The properties had been owned and managed by the seller, Santa Barbara-based Boyle Properties, for more than 20 years. The two properties were among three that changed hands recently in deals brokered by Zander. The third complex was a 58-unit complex called Blackhawk Vistas in Granada Hills that a Los Angeles-based 1031 Exchange investor bought for just under $4.8 million from Blackhawk LLC of Los Angeles. The property is located at 16915, 16945 and 16955 Blackhawk St. in Granada Hills. It consists of one-, two- and three-bedroom units in a courtyard design, on a cul-de-sac street near a local hospital and a shopping center.

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?


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.