L.A. apartment portfolio sells for $21 million

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Lagovent Real Estate Group, Inc. this week announced it sold a portfolio of Los Angeles apartments comprising approximately 300 units for $21 million. The sales incorporate assets that Lagovent acquired by between 2004 and 2005. One of the buyers was a New York-based private equity firm. Lagovent principal Brett Markinson said the company focuses on shorter investment-cycle opportunities of between two and five years. ...