CityView Makes $75M Profit From Sale Of South Bay Apartment Community
CityView has sold Solimar Apartment Community in the South Bay to a private investor for $75M.
Details about the deal were released Tuesday.
It is the final property from CityView Los Angeles Fund I. The fund built or renovated more than 2,500 housing units in 21 projects in total across L.A.
The 204-unit apartment community, at 1500 West Pacific Coast Hwy., had replaced two used-car lots.
The development features one- to three-bedroom apartments starting from $2,117/month, The Real Deal reports.
The eight-acre site is adjacent to the Harbor Park Municipal Golf Course and the Ken Malloy Harbor Regional Park.
There's currently a $90M reno nearing completion at that site.