Gelt Venture Partners Buys Placentia Apartment
Gelt Venture Partners has picked up a 125-unit apartment complex in Placentia for $63.2 million. The Brentwood-based investor bought the Union Plac...
Gelt Venture Partners has picked up a 125-unit apartment complex in Placentia for $63.2 million. The Brentwood-based investor bought the Union Place complex at 1500 Cherry Street, the Commercial Observer reported. The seller was an affiliate of MG Properties, based in San Diego. The three-story complex, built in 2012, includes two- and three-bedroom apartments that average a little more than 1,200 square feet. It has a fitness center, pool, barbecues and a playground. It was originally designed to be condominiums.