This week’s Los Angeles news relating to the real estate industry

Need news in a flash? Here’s what’s happening in your community.

Institutional property advisors, Marcus &MillichapInstitutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of 2,674 Southern California-based multifamily rental units valued at over $500 million.

The sale included 13 total properties in 2015:

  • Villa Pacific Townhomes, 136 units, Westminster, Calf.
  • Summer Field Apartments, 268 units, Indio, Calif.
  • Oceana Apartment Homes, 100 units, Oceanside, Calif.
  • Island Village Apartments, 281 units, San Diego, Calif.
  • Promenade Terrace Apartments, 330 units, Corona, Calif.
  • Cypress Village Apartments, 88 units, Buena Park, Calif.
  • Coronado Terrace Apartments, 312 units, San Diego, Calif.
  • Village on the Green, 264 units, Rancho Cucamonga, Calif.
  • The Waterfront, 64 units, Newport Beach, Calif.
  • Vista Terrace Hills Apartments, 262 units, San Ysidro, Calif.
  • Alta San Marcos, 108 units, San Marcos, Calif.
  • Corsica Apartment Homes, 141 units, Pico Rivera, Calif.
  • Acacia Park Resort Apartments, 320 units, Temecula, Calif.

Marcus & Millichap arranged the sale of The Biarritz, a 22-unit investment opportunity on San Vicente Boulevard in BiarritzSanta Monica, Calif. for $13 million. Biarritz is a two-story multifamily building with one-, two- and three-bedroom apartments and shared amenities, including a pool, 22 parking spaces and an on-side laundry facility.

Scandal star Kerry Washington listed her $2.68 million LA home. The home was built in 1926 in French Country style. The star purchased the home in 2014 for $1.865 million.

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