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Northridge Apartments Sold for $31 Million

The Village at Granada Hills, a 152-unit apartment complex, has sold for nearly $31.2 million to a Beverly Hills investment firm. The Northridge complex comprises 11 two-story buildings on nearly 5 acres. The selling price represents $224,671 a unit, which include two- and three-bedroom floorplans and range from 875 to 1,150 square feet. FSC Realty of Beverly Hills purchased the complex from Starpoint Properties, also in Beverly Hills. Bob Safai and Darin Beebower at brokerage Madison Partners handled the transaction. The Village at Granada Hills was built in the 1970s and renovated in 2008. Tenants include families, young professionals and students at nearby California State University Northridge. Amenities include a swimming pool, wading pool, fitness center, recreation room and picnic area.

Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.

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