Newhall Land & Farming Sells Valencia Apartments

Newhall Land & Farming sold the Woodglen apartment complex in Valencia for $11.7 million to Woodglen Venture, a limited partnership in Los Angeles. Newhall said the sale will add about $6.2 million to its third-quarter profit.

Woodglen consists of l60 apartments on 9.3 acres. Newhall, a limited partnership whose units are publicly traded, is developing Valencia as a master-planned community.