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SAN FRANCISCO-Park West Associates has sold Park West Apartments, a 126-unit multifamily property located in the Inner Sunset district here, to Essex Trust for $31.6 million. The owner sold the asset, which was built in 1958, after owning it for more than 30 years.

Stephen Pugh of Alain Pinel Realtors Investment Group represented the seller in the transaction. Pugh tells GlobeSt.com that the seller disposed of the asset because of favorable market conditions and that Essex plans to add value to the property and hold it for the long term.

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