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Private Buyer Snaps Up Solterra at Civic Center for $81M
Solterra at Civic Center, a 192-unit garden-style multifamily community in Norwalk, recently sold to a private company for $81 million. Solterra at Civic Center comprises one- and two-bedroom units averaging 904 square feet, and a portion of the homes have been renovated.
The property’s low-density layout sits on more than 8 acres. Located at 12700 Bloomfield Ave., Solterra at Civic Center has access to I-5, I-106, I-605 and California 91 from its location 17 miles southeast of downtown Los Angeles.
JLL marketed the property on behalf of the owner, RedHill Realty Investors, Shelter Asset Management and Tokyu Land Corporation. The JLL investment sales team representing the developer was led by Sean Deasy, Peter Yorck, Nick Lavin and Chelsea Jarvis.
- ◦Sale/Acquisition
