(Read more on the multifamily market.)
THOUSAND OAKS, CA-Archstone-Smith of Denver has acquired a191-unit complex called Oakwood Village that is 100% occupied for$46 million and plans upgrades to the property in a value-addedplay, according to Lee & Associates. Jim Fisher and CraigStevens, principals in the Sherman Oaks office of Lee &Associates, report that the Denver-based company acquired theOakwood Village complex from La Jolla-based Gaines InvestmentTrust.
The property, at 491 Gainsborough Rd., consists of units rangingfrom one to three bedrooms and averaging 1,000 sf. Amenitiesinclude a fitness center, a clubhouse, a swimming pool, a spa, fivelaundry facilities, a partially covered parking lot and privatebalconies and patios.
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