Pacific Property Co. purchased the Los Alamos Apartments at 24850 Hancock Ave. in Murrieta, CA, for $37.5 million, more than $89,200 per unit. The complex was 96 percent occupied at the time of sale. It will undergo more than $1 million in improvements by its new owners with rental rate increases of 12-15 percent and will be renamed "Waterstone at Murrieta."