Gelt Inc. Acquires Mixed-Use Property In Downtown Long Beach For $156M

The mixed-use property located at 635 Pine Ave in Downtown Long Beach has been sold for a staggering amount of $156,000,000. The property consists of 271 units with an average price per unit of $575,645. The transaction took place on January 20, 2022.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $156,000,000
• Address: 635 Pine Ave, Downtown Long Beach
• Market: Downtown Long Beach
• Buyer: Gelt Inc.
• Seller: Holland Partner Group & North America Sekisui House
• Seller's Rep: Blake A. Rogers, Alexandra Caniglia, Kevin Sheehan, Hunter Combs & Javier Rivera - Walker & Dunlop
• Units: 271
• Price Per Unit: $575,645

Gelt Inc. emerged as the buyer in this high-value transaction, while the Holland Partner Group and North America Sekisui House acted as the sellers. The sale was facilitated by Blake A. Rogers, Alexandra Caniglia, Kevin Sheehan, Hunter Combs, and Javier Rivera of Walker & Dunlop, who represented the sellers. The deal marks a significant milestone in the real estate market of Downtown Long Beach.