(To read more on the multifamily market, click here.)
ARCADIA, CA-Buyers have paid nearly $9 million for threeapartment complexes in three transactions here and in two othernearby cities, according to Hendricks & Partners. The largestof the three deals is the $3.97-million sale of the 20-unitCavalier Apartments here. The other two deals closed in San Gabrieland Pasadena and were brokered by the Pasadena office of Hendricks& Partners.
The three deals closed in the San Gabriel Valley submarket,which was described in the latest Hendricks & Partners marketreport as a region with strong price appreciation. "Escalating homeprices and steady job growth translated into strong gains for localapartment properties," the report said.
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