Irvine investor acquires Long Beach apartments for $46 million
Irvine developer Western National Realty Advisors bought a 206-unit apartment complex in Long Beach for $46 million.
Western National bought the property at 1613 Ximeno Ave. from Archstone, a Colorado apartment developer and operator. The new owners named the complex built in the 1980s the Landing at Long Beach.
Western National plans to update the 145,000-square-foot garden-style complex, said Jerry LaPointe, vice president of Western National Realty Advisors, an affiliate of apartment investor Western National Group.
The acquisition is the sixth in Western National’s Fund II, La Pointe said. “We are actively pursuing additional acquisitions.â€
ALSO:
Corona garden apartments sold in deal valued at $43 million
Apartments catering to Gen Y being built in downtown Glendale
N. Hollywood senior housing complex caters to artistic tenants
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
