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Torrance, CA - March 20, 2012 - (RealEstateRama) -- The joint venture between Mountain Real Estate Capital (MREC) and Harridge Development has recently acquired a bank-owned residential infill site located at 5120 Melrose Avenue, situated five miles northwest of downtown Los Angeles adjacent to Paramount Studios. The partners are in the process of re-entitling the site from multifamily to single family lots which they plan to sell to homebuilders. The terms of the acquisition were not disclosed.