Essex Property Trust purchased Fountain Park Apartments, a 705-unit multifamily community located in Playa Vista, Calif.
The value of the transaction was approximately $124.5 million.
Fountain Park Apartments is located near the Los Angeles International Airport and is part of the new master-planned community called Playa Vista. Built in 2000, Fountain Park Apartments consists of five, 4-story, elevator-served buildings situated above a subterranean parking garage. The property is comprised of 608,900 rentable square feet, with units ranging in size from 550 square feet for a studio to 1,125 square feet for a three-bedroom/two-bath unit.
Palo Alto, Calif.-based Essex Property Trust Inc. is a fully integrated real estate investment trust.
Send a comment or news tip to our newsroom.
Please include the headline of the story.
You have {{data.cm.viewsLeft}} articles left this month.
This content is available to Inman Select subscribers.
Please select an option below.
Please register to access this content.
To continue viewing the content you love, please sign in or create a new account
You have used all of your free pageviews.
Please subscribe to access more content.
Access denied!