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.

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