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Donald Sterling Corp. buys Los Angeles apartment tower

The Donald T. Sterling Corp., based in Beverly Hills, Calif., has purchased Mark Wilshire Apartments, a 20-story, 236-unit apartment complex in Los Angeles, for $22 million. Mount Kisco, N.Y.-based Mark Wilshire Associates was the seller. Encino, Calif.-based Marcus & Millichap Real Estate Investment Brokerage Co. represented both parties in the transaction. Built in 1966, the property was 98% occupied at the time of the transaction.

The complex offers one- and two-bedroom units, with monthly rents ranging from $757 to $1,450. Amenities include a rooftop deck and pool.

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