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CP Capital sells apartment community in Los Angeles suburb
Transactions - OCTOBER 11, 2024

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CP Capital sells apartment community in Los Angeles suburb

by Denise Moose

CP Capital announced the sale of The Gabriel — a four-story, 312-unit wrap-style apartment community in Pomona, Calif., a suburb of Los Angeles.

The Gabriel, completed in 2022, sold at 94 percent leased.

“The multifamily sector has faced challenges in recent years, but we remain optimistic due to its resilience amidst economic uncertainty and the heightened levels of renter demand that should persist long after the current wave of new supply is fully absorbed,” said Kristi Nootens, co-head at CP Capital. “The sale of The Gabriel, along with significant milestones across our portfolio, reinforces our belief that the sector is entering a new era of growth. As market conditions evolve, we look forward to continuing to partner with best-in-class developers and key industry stakeholders to deliver optimal returns for our investors.”

The Gabriel offers class A interiors with smart home technology, including stainless-steel appliances, quartz countertops, lux

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