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SHERMAN OAKS, CALIF. — Woodland Hills, Calif.-based Kiowa Arms LLC has acquired a 14-unit apartment complex, which is located at 14936-40 Magnolia Blvd. in Sherman Oaks, for approximately $2.8 million or $196,429 per unit. The two-building property offers two- and three-bedroom units. The buyer plans to renovate the complex and re-rent the vacant units. Vines Management represented the buyer; Dana Brody and Joshua May of Grubb & Ellis represented the undisclosed seller in the transaction.