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SANTA CLARITA, CALIF. — Gelt has purchased the 232-unit Monterra Ridge apartment complex in Santa Clarita for $45.5 million. The community is located at 28085 Whites Canyon Road.
Gelt plans to renovate the majority of the unit interiors as they become available. The units will receive vinyl plank flooring, new cabinets, stainless steel appliances, and new countertop surfaces in the kitchen and bathrooms. The leasing office and fitness center will also undergo an extensive remodel.
The seller was FPA Multifamily.