Parkside Villas Sold to Individual Investor
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Parkside Villas in Reseda, a 100-unit apartment building, has been sold by Kennedy-Wilson Inc. of Beverly Hills, and Hanover Financial to an individual investor. Terms of the sale were not disclosed. However, Kennedy-Wilson said it acquired the undervalued property at 6425 Reseda Blvd. in 1999, made cosmetic upgrades to common areas of the property, refurbished one-third of the units and sold it for a significantly higher price.
Kennedy-Wilson is a diversified international real estate services firm.
Hanover Financial Co. provides joint venture equity capital to small to mid-size real estate companies.
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