Bell Partners Inc. has purchased a five-story, 264-unit, 210,000-square-foot apartment complex at 11622 Aviation Blvd. in Inglewood for $123 million from San Diego-based Fairfield Residential, according to CoStar Group Inc.
The per-unit price the Greensboro, N.C.-based Bell Partners paid was nearly $466,000, or almost $586 per square foot, CoStar Group said.
Cushman & Wakefield represented Fairfield Residential in the sale.
Bell South Bay, as the property has been renamed, was built in 2016, and is the company’s first California acquisition, said Nickolay Bochilo, senior vice president of investments at Bell Partners, in a statement.
“We expect to be increasingly active in 2018,” Bochilo said.
Inglewood continues to grow as an affordable housing alternative to Santa Monica, Venice and Playa Vista for tech workers.
Real estate reporter Ciaran McEvoy can be reached at email@example.com or (323) 556-8337.