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SANTA MONICA, CALIF. — Xenon Investments has purchased a multifamily property located at 123 California Ave. in Santa Monica. The property sold at a cap rate that was just above 4 percent. The complex was built in 1959 and sold for the full asking price, which was not disclosed. Xenon was represented by Hamid Soroudi of the Charles Dunn Company’s West Los Angeles office. The seller, Petrikas Family Limited Partnership, was represented by Kimberly Roberts Stepp, also of the firm’s West Los Angeles office.