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Legacy Apartment Assets Trade Hands

LOS ANGELES—A $44 million Baldwin Hills apartment community trades hands for the first time in 34 years, Woodlake Hotel opens in Portland, OR, Andrew Tashjian joins Cushman & Wakefield as managing director in this week’s wrap-up of deals.

Woodlark Manor Woodlake Manor Apartments was purchased by Vista Investment Group with a $30.8 million loan.

LOS ANGELES—Vista Investment Group has acquired the Woodlake Manor Apartments for $44 million from Jones & Jones Management Group. This is the first time the asset has traded hands in 34 years. The property has 274 units and portions of it were upgraded last year as leases turned. Institutional Property Advisors executive director Greg Harris and senior directors Kevin Green and Joseph Grabiec represented the buyer and the seller in the transaction, and said that this sale could be a catalyst for change and growth in the market, which is still a hidden gem for investors.

SALES

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Kelsi Maree Borland

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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