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SCS Development Co. has purchased Paragon at Old Town for $87.3 million. Sequoia Equities sold the 163-unit asset in Monrovia, Calif., while Marcus & Millichap’s Institutional Property Advisors brokered the deal. The asset previously traded in 2017, when Sequoia Equities purchased it for $73.8 million from Barings, Yardi Matrix data shows. Following the acquisition, Sequoia earmarked $1.4 million in capital expenditures, renovating the unit’s interiors.