Real estate news: Placentia's Union Place apartments sell for million
The 11-year-old, 125-unit Union Place apartment complex in Placentia — originally designed as a condo complex — has traded hands for $63.15 million...
The 11-year-old, 125-unit Union Place apartment complex in Placentia — originally designed as a condo complex — has traded hands for $63.15 million The complex at 1500 Cherry St. was acquired by Gelt Venture Partners LLC in Los Angeles. The company said it will invest about $3.25 million over two years as it upgrades the complex, which is in its original condition. 'GVP saw this asset as a prime opportunity to realize significant upside by implementing a renovation program targeting luxury upgrades to unit interiors as well as making strategic common area and amenity improvements,' said Keith Wasserman, a Partner with GVP.