AIMCO nabs L.A. apartments

Occupancy still 37% shy of a full house

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Apartment Investment and Management Co. purchased The Palazzo at Park La Brea, a newly constructed 521-unit luxury apartment property located in Los Angeles' Mid-Wilshire District. AIMCO purchased the property for $162.9 million. The Palazzo was 63 percent occupied at the time of sale. Denver, Colo.-based AIMCO is a real estate investment trust that owns and operates a geographically diversified portfolio of apartment communities. *** Send a Letter to the Editor for publication.Send a comment or news tip to our newsroom. Please include the headline of the story....