Decron Properties sold the Ranch at Moorpark complex for $133 million to AEW Capital Management, at $354,000 per unit, after buying it for $84 million in 2013 and upgrading it.
Decron sold properties in L.A. and Thousand Oaks for $212 million, part of a strategy to sell assets in L.A. and reinvest in markets like San Diego, Phoenix, and Seattle.
Decron CEO mentions being disincentivized to stay in L.A. due to Measure ULA, prompting the company to sell assets for a total of $345 million over the last six months.
AEW Capital Management bought the Moorpark complex, but details on financing and deed recording remain unclear, as the firm did not provide comments.
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