Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Haven Warner Center, a 205-unit multifamily complex in the Warner Center master-planned neighborhood in Los Angeles. LA Apartments purchased the asset from a private investment firm for $54 million or $263,000 per unit.

Warner Center features over 10 million square feet of office/flex space in addition to retail and residences. Built in 1985, Haven Warner Center is a three-story complex with studio, one- and two-bedroom units plus community amenities that include a swimming pool with spa, BBQ area and fitness center.

“The scarcity and escalating cost of single-family homes in the Warner Center-Woodland Hills submarket reinforces demand for luxury apartment homes,” said IPA’s Joseph Grabiec who represented the seller along with the firm’s Kevin Green and Gregory Harris. “Warner Center is known as the Downtown of San Fernando Valley and the vision for the area is taking shape with more to come.”