Decron Properties Acquires 250-Unit Alura Apartments in Los Angeles for $79M

LOS ANGELES — Decron Properties has purchased Alura, a multifamily property located in the Los Angeles neighborhood of Woodland Hills, for $79 million.

Situated in the Warner Center district, Alura features 250 apartments in a mix of studio, one-, two- and three-bedroom layouts. Los Angeles-based Decron plans to implement a capital improvements plan to modernize the property, which was built in 1977. Renovations will include upgrades to interior units and exterior common areas.

Gregory Harris, Kevin Green and Joseph Grabiec of Institutional Property Advisors, a division of Marcus & Millichap, represented the undisclosed seller in the deal.

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