B.A.G. Investments Buys Downey Apartments for $40 Million

Another multifamily property in the Los Angeles area has traded hands.

Parc @ 5, a 104-unit apartment community in Downey, sold to Culver City-based investor B.A.G. Investments for $40 million, L.A. Business First reported. The previous owner, Parc @ 5 Downey LLC, purchased the development at 9140 Brookshire Avenue in 2018 for $37.5 million. The LLC is linked by address in state business records to Management One Property Management.

Named after its location next to Interstate 5, Parc @ 5 is a garden-style property with 20 one-bedroom, 64 two-bedroom and 20 three-bedroom units. The multifamily complex is one of the few in Downey to boast more than 100 units, according to L.A. Business First. Another property of such size, the 112-unit The Square complex at 12535 Brookshire Avenue, sold to a private buyer from The Bascom Group in the fall for nearly $38 million.

The Downey submarket is strapped for supply, and the area surrounding Parc @ 5 has remained a bright spot in the local market when it comes to rent growth and investor interest, Colliers’ Shane Shafer, who facilitated the transaction, told L.A. Business First. Rents across Los Angeles County, unlike in many parts of the Interstate 605 corridor, have been on the decline. Over the past year, rents have fallen in 33 of 53 Southern California cities tracked by ApartmentList, working out to roughly 62 percent of the region posting declines, reversing a years-long trend of widespread growth.

Still, investors haven’t shied away. The amount of multifamily units sold in L.A. County increased in both 2024 and 2025 after reaching a post-pandemic low in 2023, according to a fourth-quarter report from Kidder Mathews. Nearly 30,000 units in the county traded hands last year, representing a notable jump from fewer than 20,000 units sold in 2020.

The Parc @ 5 sale joins the growing list of multifamily properties to come under new ownership so far this year. Just this week, Universe Holdings Development bought Park Encino, a 52-unit community at 4940 Paso Robles Avenue in Encino, for $28 million.

— Chris Malone Méndez