153-UNIT APARTMENT COMPLEX SELLS FOR $21.9 MILLION
NORWALK, CALIF. — Advanced Real Estate Services Inc., a TIC syndicator, has acquired The Courtyards, a 153-unit apartment community located at 12401 Studebaker Rd. in Norwalk, for $21.9 million. The garden-style community offers 72 one-bedroom/one-bath units and 20 three-bedroom/two-bath units. Additionally, the property features two swimming pools, a whirlpool spa, an arbor-covered picnic/barbeque area, a recreation room, a fitness center and two laundry facilities. Stewart Weston of Marcus & Millichap represented both parties in the transaction. Kennedy Wilson Multifamily Management Group sold the property.