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LOS ANGELES-An affiliate of SSR Realty Advisors has acquired the Marlowe, a newly completed, 121-unit apartment complex, from the Kor Group of Los Angeles for $52 million, Arroyo & Coates reports.

The property, which the Kor Group developed and completed this year, occupies a site of nearly 1.9 acres in Hancock Park, according to Curtis Gardner and John McCulloch of Arroyo & Coates, who brokered the transaction.

The 121 units include 55 one-bedroom and 56 two-bedroom apartments in one five-story building that was designed by the architectural firm of Van Tilburg, Banvard & Soderbergh. The property borders the Wilshire Country Club and affords golf course and city views. The units feature wood floors, granite countertops, stainless steel appliances and other luxury amenities.The Marlowe represents the latest in a series of investments in local multifamily properties this year for SSR, which earlier this year entered into a joint venture with AvalonBay Communities Inc. to develop a 309-unit apartment community called Avalon Del Rey that will occupy a 4.5-acre site one block north of the intersection of Jefferson Boulevard and Westlawn Avenue, close to the Playa Vista development. Also this year, the Tower Fund, a real estate fund managed by SSR, bought the 102-unit Alexan Fontaine apartments in Marina del Rey for more than $29 million.The Marlowe’s developer, the Kor Group, owns and manages approximately 3,400 apartment units with a market value in excess of $350 million. The privately owned investment group also owns and manages seven hotels with a market value of approximately $250 million and has a variety of projects under development valued at $200 million, according to the Kor Group’s website.

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