Hanover joint ventured with a local sponsor to develop this 4-story, 48-unit, luxury apartment complex with 1,853 square feet of ground floor retail space.  This was the second transaction with the sponsor, a Los Angeles area based owner and developer of multi-family properties.  Upon successful completion of construction and lease-up of project at market levels, the Sponsor elected to buy-out Hanover’s partnership interest.  See other apartment investments.