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LOS ANGELES-The buyers of two apartment complexes totaling 225units that sold for a combined $32.5 million see significant upsidepotential in the properties, which generated "extensive offeractivity," broker Ron Harris of Marcus & Millichap's LosAngeles office tells GlobeSt.com. The properties were the 104-unitGlenview Terrace Apartments at 2121 Valderas Dr. in Glendale andthe 121-unit La Fayette Apartments at 249 La Fayette Place in theMid-Wilshire district of Los Angeles.

Harris, who represented both the buyer and the seller in bothsales, tells GlobeSt.com that both complexes were 100% occupied atthe time of the sale and that both attracted multiple offers.Beverly Hills-based StarPoint Properties bought the Glendalecomplex from Glenview Terrace Apartments for $17 million, andMillennium Holdings of Los Angeles bought the La Fayette propertyfrom locally based LaFayette Park LLC for $15.5 million.