IN-DEPTH: Capri JV acquires California mixed-use property for $283m
Joint venture partners Capri Capital Partners, Guardian Life Insurance Co. and TruAmerica Multifamily have acquired the newly built Vermont, a 464-unit high-rise apartment complex in Los Angeles, for $282 million, or $584,711 per unit.
The transaction is considered the largest multifamily transaction in California this year. The sellers were JH Snyder and Washington Capital Management. JLL represented the sellers.
The new ownership team has hired Lincoln Property Co. to handle overall property management.