Post Investment Group dropped $71 million on a rental complex in the desert city of Palmdale that dwarfed the top multifamily sales in the city combined last year, according to Los Angeles County tax assessor data and research by The Real Deal.
Boca Raton, Florida-based Liberty Equities USA sold the 16-building property, called Chaparral Apartments, in a March 2025 deal amounting to $342 per square foot, or just under $240,000 per unit.
This is the latest installment in a feature providing a weekly update on top sales by market segment, based on TRD Data for given periods. To see the top multifamily sales in Palmdale in 2025 click here.
Chaparral Apartments is a 296-unit property, spanning 18.21 acres with 16 two-story garden-style buildings. At 213,664 square feet, Chaparral Apartments is one of the largest multifamily assets in Palmdale. The property has 72 studios, 164 one-bedroom apartments and 60 two-bedroom pads.
The $71 million price for 38441 5th Street West was warranted due to the “quality and location of the asset,” Steven Goldstein of Northmarq’s Los Angeles Multifamily Investment Sales said. He brokered the deal along with Northmarq’s Jeff Benson and Sam Neumark. In addition, Goldstein said, the property is “well-managed, which allowed the property to command rents higher than the comparable properties while also limiting the initial CapEx needed.”
Amenities include two swimming pools, three tennis courts, a fitness center, a business center, two laundry facilities, a movie theater and a resident lounge. The property offers parking for 488 vehicles.
Liberty Equities chose to sell the asset in order to “repatriate the capital to different asset types and move the money back closer to their headquarters in Florida,” Goldstein said.
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Commercial
Los Angeles
Post Investment Group pays $71M for Chaparral Apartments in Palmdale
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