The property, which the Kor Group developed and completed thisyear, 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-bedroomapartments in one five-story building that was designed by thearchitectural firm of Van Tilburg, Banvard & Soderbergh. Theproperty borders the Wilshire Country Club and affords golf courseand city views. The units feature wood floors, granite countertops,stainless steel appliances and other luxury amenities.The Marlowerepresents the latest in a series of investments in localmultifamily properties this year for SSR, which earlier this yearentered into a joint venture with AvalonBay Communities Inc. todevelop a 309-unit apartment community called Avalon Del Rey thatwill occupy a 4.5-acre site one block north of the intersection ofJefferson Boulevard and Westlawn Avenue, close to the Playa Vistadevelopment. Also this year, the Tower Fund, a real estate fundmanaged by SSR, bought the 102-unit Alexan Fontaine apartments inMarina del Rey for more than $29 million.The Marlowe's developer,the Kor Group, owns and manages approximately 3,400 apartment unitswith a market value in excess of $350 million. The privately ownedinvestment group also owns and manages seven hotels with a marketvalue of approximately $250 million and has a variety of projectsunder development valued at $200 million, according to the KorGroup's website.