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LOS ANGELES — A local private investment company has purchased a three-property multifamily portfolio based in Southern California for $40.5 million. The portfolio includes a total of 484 units in four buildings.

The acquisition includes 344 units in San Bernardino County, a 60-unit building in Orange County, and a two-building, 80-unit apartment complex in Los Angeles County. All of the properties have deferred maintenance.

DeLonne Valens and Tim Steuernol of NAI Capital’s Multifamily Services Group was represented the buyer and the seller, Chanslor Street LLC, in this transaction.

This story was originally published on rebusiness.com. Click here to view the full article