Abacus Capital Group Acquires Apartment Complex In West Covina For $33.9M

The Atrium Apartments, located at 1829 E Workman Ave in West Covina, LA, have been sold in a closed property transaction. The apartment complex, spread across a total area of 146,000 square feet, comprises 138 units. The property was bought for a total price of $33,900,000, with an average price per square foot of $232. The units themselves mostly consist of two- and three-bedroom layouts, averaging over 1,000 square feet each. The Atrium Apartments offer various amenities, including three swimming pools, a business and fitness center, as well as barbecue areas. Additionally, the property boasts easy access to the 10 freeway.

Summary of Transaction Details:

• Property Type: Apartment complex
• Transaction Amount: $33,900,000
• Square Footage: 146,000 SF
• Price per Square Foot: $232
• Number of Units: 138
• Price per Unit: $245,700
• Market: West Covina
• City: LA

The deal was facilitated by Dean Zander, Stewart Weston, and John Montakab from CBRE Group Inc., representing the buyer and seller in the transaction. Abacus Capital Group acted as the buyer, while MG Properties Group was the seller.

(Note: This information was sourced from LABJ.)