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by CareyBot

StarPoint Properties purchased Le Club, a 370-unit, garden-style apartment complex in Moorpark, Calif. The value of the transaction was not disclosed. Built in 1987, Le Club, located at 51 Majestic Ct., offers spacious 2-bedroom/2-bath and 3-bedroom/2-bath apartments. The two- and three-bedroom units average in size from 820 square feet to 1,100 square feet. StarPoint's planned $2 million renovation will target upscale renters through a remodeling of all the common areas, expansion of the fitness center to 1,000 square feet, addition of a business center and a complete upgrade of all the unit interiors. Stan Jones and John Walsh of Marcus & Millichap represented the buyer, StarPoint Properties, and the seller, a large public REIT. StarPoint Properties LLC is a real estate company...