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LA Apartments Acquires Residential Portfolio In Van Nuys & Sylmar For $162M

7400 North Sepulveda Boulevard, 13727 Sylvan Street, 7121 Woodley Avenue and 14165 Foothill Boulevard
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This Co-Op property located in CA was sold for $162,000,000 almost 6 years ago. The brokers of the deal were Ronald Harris, Joseph "Joe" Grabiec, Gregory (Greg) Harris, Kevin Green, and Bryan Schellinger

The recent sale of four residential properties in Los Angeles has generated a significant amount of buzz in the real estate market. The properties, located at 7400 N Sepulveda Blvd, 13727 Sylvan Street, 7121 Woodley Ave, and 14165 Foothill Blvd, were collectively sold for a total of $162,000,000. With a total of 644 units, the average price per unit comes out to be $251,000. The properties offer a range of amenities and are situated in the desirable neighborhoods of Van Nuys and Sylmar.

Summary of transaction details

  • Property Type: Residential
  • Transaction Amount: $162,000,000
  • Number of Units: 644
  • Price Per Unit: $251,000
  • Capitalization Rate: 3.5-4.5%
  • Market: Van Nuys & Sylmar, Los Angeles

The sale was facilitated by the renowned real estate agency, Institutional Property Advisors, along with Marcus & Milichap. The seller, Silkand Properties, was represented by Ronald Harris, Greg Harris, Kevin Green, Joe Grabiec from Institutional Property Advisors, and Bryan Schellinger from Marcus & Milichap. On the other side, LA Apartments emerged as the buyer in this lucrative transaction.

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Deals
  • Location
    7400 North Sepulveda Boulevard, Van Nuys, CA, USA7400 North Sepulveda Boulevard, Van Nuys, CA, USA
  • Sale Price
    $162,000,000$162,000,000
  • Asset Type
    Co-OpCo-Op
  • Parties
    5 Brokers, 2 Agencies5 Brokers, 2 Agencies

Agents

Ronald Harris

Ronald Harris

Deals1
Sold$162M

Bryan Schellinger

Bryan Schellinger

Deals10
Sold$480.4M

Agencies

Marcus & Millichap

Marcus & Millichap

Agency
Deals6865
Volume$64B

NorthMarq

NorthMarq

Agency
Deals468
Volume$21.2B

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Deal Summary

SALE IMAGE: Greg Harris and Bryan Schellinger DATE: 05/01/2018 ADDRESS: 7400 N Sepulveda Blvd, 13727 Sylvan Street, 7121 Woodley Ave and 14165 Foothill Blvd CITY: Los Angeles MARKET: Van Nuys & Sylmar ASSET TYPE: Residential PRICE: $162,000,000 UNITS: 644 PPU: 251K CAP RATE: 3.5-4.5% SELLER: Silkand Properties BUYER: LA Apartments BROKERS: Ronald Harris, Greg Harris, Kevin Green and Joe Grabiec – Institutional Property Advisors & Bryan Schellinger – Marcus & Milichap

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7400 North Sepulveda Boulevard, 13727 Sylvan Street, 7121 Woodley Avenue and 14165 Foothill Boulevard

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