SIMI VALLEY, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), has brokered the sale of The Landing at Arroyo in Simi Valley, approximately 40 miles northwest of downtown Los Angeles. The asset traded hands for $95 million.
Kevin Green, Joseph Grabiec and Gregory Harris of IPA represented the seller, USA Properties Fund, and procured the buyer, a private multifamily investor.
The Landing at Arroyo was built in 2022. The community consists of 212 units across seven buildings on a 10-acre site. Apartments feature washers and dryers, quartz countertops and stainless-steel appliances. The Landing at Arroyo offers amenities such as a pool and spa, game room, fitness center, co-working space and package lockers.