StarPoint bags Le Club
370-unit property to undergo $2 million renovation
By Inman News, Tuesday, March 16, 2004.Inman News®
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 that specializes in the acquisition, development and re-positioning of multifamily projects.
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