Belle buy for ING.MARINA del RAY, CA: ING Clarion A family of application development systems for Windows from SoftVelocity, Inc., Pompano Beach, FL (www.softvelocity.com). Clarion provides a comprehensive set of tools for development, including a screen builder, 4GL and application generator. has acquired Belle Fontaine, a 102-unit, class-A apartment complex in Marina del Rey, California Marina del Rey (Spanish for "Navy of the King", or "Seacoast of the King") is a census-designated place seaside community located in an unincorporated area of Los Angeles County, California, United States. The population was 8,176 as of the 2000 census. for approximately $38.2 million. The acquisition was made on behalf of a core commingled fund Commingled Fund A type of mutual fund consisting of assets from several accounts that are blended together. Sometimes called a "pooled fund." Notes: They are "commingled" to reduce the costs of managing them separately. advised by the firm with brokerage services for the seller provided by Moran & Company. Said Richard Pink, managing director at ING Clarion, "With Marina del Rey's historically strong rental growth, the attractive quality of life it offers, as well as its close proximity to major office building markets, combined with the overall strength of the under-supplied apartment market of Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , we look very favorably on the apartment submarket in this area." Constructed in 2003, Belle Fontaine is a luxury apartment community, consisting of two adjoining four-story buildings. The property is currently 95% leased. |
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