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LOS ANGELES — Greystar Equity Partners has purchased two apartment communities in Los Angeles for a total of $178 million. The properties contain a total of 374 units. The assets were purchased through Greystar Equity Partners IX LP (GEP IX).
The transactions include the 195-unit Gardens at Wilshire Center at 3675 Wilshire Blvd. in Koreatown, along with the 215-unit Villas at Rancho Palos Verdes at 6600 Beachview Drive in Ranchos Palos Verdes.
The communities were purchased from two different sellers, which were not disclosed. GEP IX is part of Greystar’s flagship, value-add fund series.