(Read more on the multifamilymarket.)
WEST COVINA, CA-The Los Angeles-based KOR Group plans arepositioning play after acquiring a 182-unit apartment complexhere for $30 million, according to Sperry Van Ness. The L.A.investment and development firm's new asset is the Sunset Plazaapartment complex at 1234 W. Cameron Ave., which KOR acquired fromInterstate Equity Corp. of Los Altos.
The sale was brokered by Kitty Wallace and Debby Emrani of theWest Los Angeles office of Sperry Van Ness, with Wallacerepresenting both the buyer and the seller and with Emrani alsorepresenting the seller. Wallace reports that the complex drew manycompeting offers and that the buyer assumed in-place financing.
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