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Article: Apollo Real Estate Advisors Acquires Multi-Family Properties in L.A.
- Article from:
- PR Newswire
- Article date:
- April 10, 2007
CopyrightCOPYRIGHT 2007 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LOS ANGELES, April 10 /PRNewswire/ -- Apollo Real Estate Advisors has acquired 24 multi-family rental properties in various submarkets of Los Angeles, with plans to maintain them as rental housing, the firm said.
With a total acquisition value of approximately $83 million, the properties are located in the Silverlake, Westlake, Koreatown, Hollywood, West Hollywood and Los Feliz submarkets, and comprise 1,002 primarily rent- controlled units. The apartments consist mostly of studios and one-bedrooms, ranging from 700 to 1,000 square feet. The sellers were not disclosed.
Apollo, which invests in and co-develops projects throughout the country, plans to ...