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Price Takes Flight in Sale of Apartment Complex Near LAX

California Home Builders Pays More Than $230 Million for Modera West LA

The 376-unit apartment complex at 5901-5921 Center Drive in Los Angeles, formerly known as Modera West LA, has a new owner. (Christiaan Cruz/CoStar)
The 376-unit apartment complex at 5901-5921 Center Drive in Los Angeles, formerly known as Modera West LA, has a new owner. (Christiaan Cruz/CoStar)

A Los Angeles residential developer has acquired a luxury apartment property in one of the region's largest multifamily deals of the year.

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