A joint venture between The Praedium Group and Coastline Capital Partners acquired the Rosemead Garden Apartments in Pico Rivera, Calif.

The value of the transaction was $13 million.

Built in 1973, the two-story multifamily property, located at 7711 Rosemead Blvd., comprises 131 units.

At the time of sale, occupancy was at 94 percent.

Chris Thompson of Investment Real Estate Associates of Los Angeles represented the seller, a private investment partnership, in this transaction.

Hermosa Beach, Calif.-based Coastline Capital Partners LLC is a real estate investment company.

New York City-based The Praedium Group is a real estate investor focusing on under-performing and under-valued assets throughout North America.


Send tips, feedback or a letter to the editor to dave@inman.com or call (510) 658-9252, ext. 138.

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Thank you for subscribing to Morning Headlines.
Back to top
Refer friends to Select and get $200 in credit.Register Here×
Connect Now is less than two weeks away. Prices go up May 30.Reserve your seat today.×