AVA North Hollywood in Los Angeles

Institutional Property Advisors Brokers $62 Million Sale of AVA North Hollywood in Los Angeles

by Channing Hamilton

LOS ANGELES — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of AVA North Hollywood, a 156-unit community in the NoHo Arts District of Los Angeles. Prime Residential acquired the property from AvalonBay Communities Inc. for $62.1 million. Kevin Green, Joseph Grabiec and Gregory Harris of IPA represented the seller and procured the buyer in the deal.

AVA North Hollywood was constructed in 2015. Amenities include a pool and spa, clubroom, sky deck, leasing office, movement studio, cybercafé and business center. The property also features 11,000 square feet of ground floor retail space, which houses four eateries, a Pilates studio and a massage and spa center.

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