Decron Properties has sold a two-property, 399-unit portfolio in Thousand Oaks, Southern California, to FPA Multifamily for $171.3 million. The properties, Los Robles Apartments and The Retreat at Thousand Oaks, acquired by Decron in 2016 for $126.5 million, represent 11% of the total market-rate housing stock in Thousand Oaks. The sale price for this transaction was $171,300,000, resulting in a per unit price of $429,323.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $171,300,000
• Units: 399
• Price Per Unit: $429,323

The buyer in this transaction is FPA Multifamily, represented by Greg Fowler. The seller is Decron Properties, represented by David Nagel. The brokers involved in the deal are Gregory Harris, Joseph Grabiec, and Kevin Green from Institutional Property Advisors - Marcus & Millichap.

This transaction was facilitated by IPA, with the properties acquired by Decron in 2016 now being sold for $171.3 million to FPA Multifamily. These two properties account for 11% of the market-rate housing stock in Thousand Oaks.