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STUDIO CITY, CA-GlobeSt.com has learned exclusively that a private investment fund has sold Studio 40-41, a 149-unit luxury apartment community at 4041-4121 Radford Ave. here, to Archstone for $56.3 million. The property is centrally located on 1.26 acres on the Ventura Blvd. corridor.

Greg Harris and Ron Harris, EVPs, and directors Kevin Green and Joseph Smolen, all from Institutional Property Advisors, a multifamily brokerage division of Marcus & Millichap, represented both the buyer and the seller in the transaction. “The investor acquired a core Southern California asset in a dense infill location across the street from CBS Studio Center and adjacent to the burgeoning Ventura Blvd.,” said Ron Harris in a prepared statement.

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