40-UNIT OTSEGO VILLAS FETCHES $7.7 MILLION

NORTH HOLLYWOOD, CALIF. — Los Angeles-based IPX has acquired Otsego Villas, a 40-unit apartment community located at 11109 Otsego St. in North Hollywood. Beverly Hills, Calif.-based Otsego Villas LLC sold the property for $7.7 million. Melinda Russell of Hendricks & Partners’ Los Angeles office represented both parties in the transaction.