SCV’s The Madison sold to Chinese developer

The Madison at Town Center, a 130-unit apartment community near Valencia Town Center, has changed ownership in a $45.9-million deal, Multi-Housing News reported Tuesday. The 15-year-old property at McBean and Magic Mountain parkways was acquired by Gemdale USA, a subsidiary of Gemdale Corp., one of China’s largest real estate developers, from Los Angeles-based Decron Properties. The Madison includes three buildings, pool, fitness center and clubhouse, according to MHN.

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