(To read more on the multifamily market, click here.)
SHERMAN OAKS, CA-Pacific Property Co. has sold its 105-unitBoulevard at Sherman Oaks apartment complex for $28.9 million. Theproperty is one of the few class A luxury apartment complexes inthe Sherman Oaks submarket, notes broker Gregory Harris of Marcus& Millichap.
Harris, whose Harris Group represented both the buyer and theseller, adds that the Boulevard property is the only such luxuryapartment development that's located south of Ventura Boulevard.The name of the buyer was not disclosed, but industry sources tellGlobeSt.com that the new owner is Morgan Stanley Real Estate.
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