L.A. apartment portfolio sells for $21 million

Lagovent Real Estate Group, Inc. this week announced it sold a portfolio of Los Angeles apartments comprising approximately 300 units for $21 million.

The sales incorporate assets that Lagovent acquired by between 2004 and 2005. One of the buyers was a New York-based private equity firm.

Lagovent principal Brett Markinson said the company focuses on shorter investment-cycle opportunities of between two and five years.

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.