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.