THOUSAND OAKS, CALIF. — San Mateo, Calif.-based APIP Pavilion LLC has purchased Pavilion Apartments, a 142-unit apartment community located at 550 N. Laurie Ln. in Thousand Oaks, from Corona Del Mar, Calif.-based Pavilion Associates for approximately $42.57 million. Built in 1967, the property consists of 26 two-story buildings situated on an 8.88-acre land site. The property also features a two-story clubhouse with a large fitness center and two pools and a spa, as well as oversized units in a variety of one-, two- and three-bedroom floorplans. Dean Zander of Hendricks & Partners’ Los Angeles office represented both parties in the transaction.