Carmel Partners sells Norwalk apartment complex valued at $157M

Developer Carmel Partners, which has been in hot water over its potential involvement in the corruption case of Los Angeles City Council member Jose Huizar, has sold its majority stake in a 464-unit rental complex in Norwalk, Connecticut. Invictus Real Estate Partners, which owned 10 percent of The Waypointe at 515 West Avenue, bought Carmel’s 90 percent stake. The property is valued at $157 million. “We believe in Norwalk,” said Eric Scheffler, the managing partner

source https://therealdeal.com/2020/09/22/carmel-partners-sells-norwalk-apartment-complex-valued-at-157m/