A pair of private investors from Calabasas purchased a $60 million portfolio of apartments.
Sean Baker and Gary Simons of Upside Investments Inc. bought Crenshaw Village, a 669-unit apartment portfolio in Baldwin Hills. The 652,750-square-foot portfolio of 65 buildings was sold by a private investor.
Ron Harris, an executive vice president of investments for Institutional Property Advisors, a multifamily brokerage division of Marcus & Millichap, said the property received lots of interest.
“The property’s tremendous potential is further enhanced by the large amount of public and private investment taking place in the immediate area," Harris said.
Crenshaw Village is a mix of studio, one-bedroom, two-bedroom and three-bedroom units, including several townhome-style layouts. The buildings are on 25 acres in the triangular area between La Brea Avenue, Martin Luther King Jr. Boulevard and the Baldwin Hills Crenshaw Plaza mall.
Paul Darrow, associate director at IPA, and Michael DiSimone, associate at IPA, also represented the seller. The deal was completed in September.