SIMI VALLEY, CALIF. — USA Properties Funds has completed the disposition of The Landing at Arroyo, a multifamily property in the Los Angeles suburb of Simi Valley. A private multifamily investor purchased the 212-unit community for $95 million, or $448,113 per unit.
Kevin Green, Joseph Grabiec and Gregory Harris of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller and procured the buyer in the deal.
Built in 2022 on 10 acres, The Landing at Arroyo offers apartments spread across seven buildings, a swimming pool, spa, game room, fitness center, coworking space and central package lockers for deliveries. Apartments feature washers/dryers, stainless steel appliances, quartz countertops and designer plumbing and lighting fixtures.