San Fernando Valley apartments change hands

Construction dates back to early 1970s

Don't miss the real estate event of the summer
Join 4,000 real estate pros at Connect SF, Aug 7‑11, 2017

Marcus & Millichap negotiated the sale of the 201-unit Village Green Apartments in Panorama City, Calif. The value of the transaction was $19.2 million. Village Green Apartments is located at 9010 Tobias Ave. The sale includes 160,858 rentable square feet on 2.4 acres. The class B community was constructed in 1972 with a unit mix comprised of 50 studios, 103 one-bedroom and 48 two-bedroom apartment homes. At the time of sale, occupancy was 97 percent. A Los Angeles-based private investor, Millenium Holdings, sold the property to an undisclosed buyer. Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage. *** What's your opinion? Send your Letter to the Editor to opinion@inman.com....