MC Investment Partners is the buyer behind the $26 million deal for the 100-unit Bristol Garden Apartments in Rampart Village.
The seller was Bristol Garden LLC, whose manager is Yee Phong Thian, property records show.
The sale closed in June but did not appear in Los Angeles County records until late last month. Bisnow first reported the transaction on Sunday, but provided only the buyer’s and seller’s LLCs.
Thian is a principal at Sherman Oaks-based United Overseas Investment, which is connected to the LLC. Also known as Alan, he is CEO of Royal Business Bank, a Los Angeles-based commercial bank.
The three-story complex is located at 340 S. La Fayette Park Place. Built in 1973, it includes 77 one-bedroom apartments and 23 two-bedroom apartments. It last changed hands in 1982, for $4.3 million.
Founded in 2006, La Jolla-based MC Investment has recently targeted multifamily investments, according to its website. The firm is now “highly concentrated in this asset class,” the company said.
The firm said it has properties in L.A., San Diego and the San Francisco-Oakland-San Jose metro areas.