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LOS ANGELES — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Summerset Village in the Chatsworth neighborhood of Los Angeles. An institutional buyer purchased the asset from an undisclosed seller for $106.6 million. Kevin Green, Joseph Grabiec and Gregory Harris of IPA represented the seller and procured the buyer.
Summerset Village was built in 1986. The community comprises 280 apartments across 39 two-story buildings. Select units feature fireplaces, patios and direct access garages. Amenities include two pools, two hot tubs, a beach volleyball court and direct access to hiking trails.