Gemdale USA Sells Madison at Town Center Apartment Complex in Valencia, California for $62M
VALENCIA, CALIF. — Gemdale USA has completed the disposition of The Madison at Town Center, a multifamily property in Valencia. Fairfield Residential acquired the asset for $62 million, or $476,923 per unit.
Built in 2003, The Madison at Town Center features 130 apartments, a heated swimming pool, fitness center, internet café and 24-hour maintenance concierge. The property offers 16 different floor plans, ranging from one- to three-bedrooms, with in-unit washers and dryers, walk-in closets, upgraded appliances, gallery-style track lighting with spotlight, soaking tubs and single vanities.
Kevin Green, Joseph Grabiec and Gregory Harris of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal.