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Afton Properties buys Calif. apartment assets

Los Angeles-based multifamily investor Afton Properties acquired the 800-unit Sunset Ridge Apartments in Lancaster, Calif., for $132 million, The Real Deal reported, citing Afton principal Reuven Gradon.

Property records showed Sunset Ridge had been owned and operated by Provident Housing Resources since the early 2000s, the report added.

Afton also recently paid $53.5 million for the 178-unit Canyon Crest Views housing community at 5253 El Cerrito Drive in Riverside, Calif. Klingbeil Capital Management was the seller, the publication said.