Luxury apartments snapped up in San Fernando Valley

Joint venture builds portfolio

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The Bascom Group, in a joint venture with Rockwood Capital, has purchased Renaissance Apartment Homes at Warner Center, a 477-unit apartment community in Woodland Hills, Calif. The purchase price was $82.8 million. The seller of the property was Renaissance Apartments LLC, a Delaware limited liability company. Renaissance is a luxury apartment home community with unit sizes that range from studio units at 625 square feet to three-bedroom units at 1,125 square feet. Consisting of six four-story mid-rise buildings with interior hallways and elevators, Renaissance has controlled gate access, waterscapes, a fitness center, a barbecue area, a business center, a clubhouse, two newly resurfaced tennis courts, a playground and tot lot, two swimming pools, two spas, and six laundry facilities. Built in 1968, Renaissance is located on 8 acres and was renovated in 2003. *** What's your opinion? Send your Letter to the Editor to opinion@inman.com....