Madison at Town Center in Valencia.

Madison at Town Center in Valencia.

Madison at Town Center, a 130-unit apartment complex in Valencia, has sold for $62 million, according to Institutional Property Advisors, the division of Calabasas-based brokerage Marcus & Millichap Inc., which handled the deal.

The complex at 24555 Town Center Drive was built in 2003 with more than a dozen different floor plans from one to three bedrooms. All units feature washers and dryers, walk-in closets, single vanities, soaking tubs and gallery-style track light3.ing with spotlights. Amenities include a heated pool, clubhouse, fitness center, internet café and a 24-hour maintenance concierge.


“These attributes uniquely position the asset to benefit from the expanding job base and suburban migration,” Kevin Green, an executive director at IPA, said in a statement.


“Madison at Town Center provides residents with all aspects of first-class apartment living, and its pristine location and convenient access to the I-5 freeway sets this property apart,” IPA Executive Managing Director Gregory Harris said in a statement. “Our strategic marketing campaign garnered a competitive bidding environment, giving our client multiple credible buyers to choose from.”