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LOS ANGELES — Colliers has arranged the sale of Villa Del Mar, a 198-unit waterfront community in the Marina del Rey neighborhood of Los Angeles. Colliers Vice Chair Kitty Wallace represented both the seller, original developer, Villa Del Mar Properties, and long-time operator, Far West Management, and a private buyer. Villa Del Mar is situated on approximately 5 acres with 1,500 linear feet of marina frontage and is one of 16 communities along the Marina del Ray harbor. The property was developed in 1972. Villa Del Mar properties has invested $27 million in improvements to the property in the past 10 years. Amenities include a pool and hot tub, tennis and basketball courts, a fitness center and 645 parking spaces.