Los Robles Apartments in Thousand Oaks, California

Institutional Property Advisors Brokers $171.3 Million Sale of Two Properties in Thousand Oaks, California

by Channing Hamilton

THOUSAND OAKS, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of a two-property, 399-unit portfolio in Thousand Oaks. FPA Multifamily purchased the assets from Decron Properties for $171.3 million. IPA’s Kevin Green, Joseph Grabiec and Gregory Harris represented the seller and procured the buyer.

The properties included in the portfolio are Los Robles Apartments and The Retreat at Thousand Oaks. Los Robles Apartments is a 32-building property that offers studio, one- and two-bedroom apartments. Units average 882 square feet in size. Amenities include a new leasing office, pool, fitness center and outdoor lounge areas.

The Retreat at Thousand Oaks comprises 28 buildings. The complex offers one- and two-bedroom apartments, three-bedroom townhomes and four-bedroom flats. The average unit size is 1,260 square feet. The property is in walking distance of Janss Marketplace, an outdoor shopping mall.

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