(Save the date: RealShare Apartments comes to theWestin Bonaventure, Los Angeles, October24.)
THOUSAND OAKS, CA-GlobeSt.com has exclusively learned thatEnglewood, CO-based Archstone has soldArchstone Thousand Oaks Crest, a 191-unitapartment community here, for $51,375,000 to LosAngeles-based IMT Capital LLC. The asset, whichsold for $269,000 per unit, drew more than 90 interested buyers andmultiple offers from both private and public apartment investmentfirms.
Jim Fisher, Mike Smith and CraigStevens, principals of Lee & Associates-LANorth/Ventura, represented Archstone in the transaction.“The value of this asset belies its age due to a number of factorsincluding the demographics in Thousand Oaks,” said Fisher in aprepared statement. Fisher had also represented Archstone in thepurchase of the property for $43 million in July 2007.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
