Praedium Buys Santa Fe Springs Apartment Building
The Praedium Group has snatched up the 150-unit Miro Apartments in Santa Fe Springs for more than $47M.
Fairfield Residential owned the property, at 12257 Heritage Springs Drive, which is on 5.8 acres in the master planned community of Village at Heritage Springs.
The property has one, two and three-bedroom units, according to Multi-Housing News.
The apartments, which are spread out over nine buildings, feature stainless steel appliances, granite counters and one-car garages and carports.
The complex also has a clubhouse, a swimming pool, and a state-of-the-art fitness center with a yoga studio and digital fitness on demand.
The sale was reportedly subject to a $28.2M loan from California Bank & Trust.
It is the only apartment community built in the area in about 40 years. [MHN]