Greystar to sell two L.A. apartment properties

Greystar Real Estate Partners, a multifamily real estate company, is seeking buyers for two apartment properties in the Greater Los Angeles area that are a part of a 13-property portfolio valued at $1.2 billion, reported The Real Deal.

Greystar did not disclose the specific properties; however, eight of the properties are in California, including the two in Los Angeles, and the remaining five properties are in Virginia. In total, the portfolio consists of 3,374 units spread across newer, core properties and value-added assets, according to CoStar, which first reported on the portfolio sale.

In recent transactions in California, Greystar acquired the 211-unit Pacific Court Apartments on behalf of its real estate funds. The asset is located at 250 Pacific Ave. in Long Beach, Calif.