Regent Properties And Partners Acquire Multifamily Asset From Hankey Capital For $23 Million

The transaction involved a 48-unit multifamily property located at 1121 North La Cienega Boulevard in West Hollywood. The sale price was set at $23,000,000, leading to a price per unit of $479,167. This asset transaction marked a significant movement in the West Hollywood market.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $23,000,000
• Units: 48
• Buyer: Regent Properties, Amoroso Companies & Arselle Investments
• Seller: Hankey Capital
• Brokers: Vince Norris, Jim Fisher, Mike Smith, Steven Goldstein & Tommy Yates - NorthMarq
• Mortgage Brokers: Scott Botsford, Joe Giordani & Brendan Golding - NorthMarq
• PPU: $479,167

NorthMarq played a crucial role in this transaction by arranging the $23 million sale and securing a $12.53 million acquisition loan through Fannie Mae financing. The brokerage represented both Hankey Capital and the buyer consortium consisting of Regent Properties, Amoroso Companies, and Arselle Investments, showcasing their expertise in facilitating substantial real estate deals.