Archstone Apartments just purchased Villa Venetia, a 224-Unit Complex with Unbelievable Views in Marina del Rey
There are a couple incredibly epic locations in the Marina and the Villa Venetia complex is one of them. Located with views that go straight down the main channel and out to the ocean. I can’t wait to see what Archstone does to vamp this place up!
Here is an article just posted on this new sale:
Marina del Rey, Calif.—Archstone has acquired Villa Venetia, a 224-unit apartment community in Marina del Rey, for a purchase price of $44.8 million. Archstone plans to invest $25 million in renovations into the community over the next year. Once completed it will be renamed Archstone Breakwater at Marina del Rey.
“We are very excited about the acquisition of yet another apartment community in one of the nation’s most attractive cities,” says Scot Sellers, chief executive officer at Archstone. “Archstone Breakwater at Marina del Rey will be an outstanding addition to our portfolio, and its renovation into a well-appointed apartment community will be an excellent investment for us.”
The property is located on the southeast shore of the famous marina along the Ballona Creek Bike Path. Almost all units have views of the marina, the wetlands or the Playa del Rey hillside. The renovated community will offer two pools and a 24-hour fitness center. Archstone at Breakwater will be the company’s third community in Marina del Rey. Click here for more information on this complete Marina del Rey apartment complex renovation….
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