San Fernando Valley apartments change hands

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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