Equity Snaps Up Los Angeles Area Rental Complex

Law360, New York (December 23, 2011, 2:41 PM EST) -- Multifamily real estate developer Equity Residential has purchased a 174-unit California luxury apartment complex from an unnamed institutional investor through real estate asset manager AEW Capital Management LP, an Equity spokesman said Friday.

The Encore at Sherman Oaks is a four-story apartment building on Van Nuys Boulevard in the upscale Los Angeles neighborhood of Sherman Oaks. The complex includes a pool, spa, fitness center and business center and is billed as a “secluded urban oasis” close to Los Angeles night life, shopping and U.S. Route 101,...
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