Partnership Buys Apartment Units in West Covina
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The 300-unit Villa Riviera apartment complex in West Covina has been purchased from the Great Bay Co. of Boston for $16.25 million by Barranca Villa Investors Ltd., a California limited partnership.
PMI Financial Inc. of Beverly Hills arranged the purchase. Villa Riviera is located at 111-131 S. Barranca Ave. The complex, with 268,000 square feet of rentable space, was built in 1972 and will be substantially refurbished, according to Scott Sternberg, general partner of Barranca.
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