The Bascom Group purchased a 117-unit apartment community known as the Grand Lafayette Apartments in Los Angeles.
The value of the transaction was $9.2 million.
The property, which is located at 274 S. La Fayette Park Place, was built in 1972. It consists of one three-story building comprised of studios and one- and two-bedroom apartments with an average size of 663 square feet. Current amenities include a spa, patios/balcony, and gated parking.
Monarch of the West, a California limited liability company, sold the property to Bascom.
Representing both buyer and seller was Larry Cannizarro of Los Angeles-based Beitler Commercial.
Irvine, Calif.-based Bascom has is an active buyer of multifamily properties throughout California, Hawaii and the Pacific Northwest.
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