Clarion Partners has paid $221.5m (€199m) to buy two Los Angeles apartment complexes according to people familiar with the matter.
IPE Real Assets understands that the real estate investor has bought the 239-unit Park Anza and the 183-unit W 235 assets, located in the Torrance in California from Rockpoint Group. The two properties have a 95% occupancy.
Rockpoint acquired the multifamily portfolio in a joint venture with Strategic Housing Partners in 2017.
Both Clarion and Rockpoint declined a request for comment.