Robert E. Hart Of TruAmerica Multifamily Acquires Luxe Villas Multifamily In Brentwood For $49.49M

The transaction involved Luxe Villas, a multifamily property located at 11640 Mayfield Avenue in the Brentwood market of Los Angeles. The property consists of 60 units and was sold for $49,494,000, which amounts to approximately $824,900 per unit. The asset is noted as being post-2000, with most units renovated, and includes co-living suites. It is strategically positioned near significant Westside office tenants such as HBO, Lionsgate, Hulu, and Activision.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $49,494,000
• Address: 11640 Mayfield Avenue
• Market: Brentwood, Los Angeles
• Units: 60
• Price Per Unit: $824,900
• Buyer: Robert E. Hart - TruAmerica Multifamily
• Brokers: Kevin Green, Joseph Grabiec & Gregory Harris - Marcus & Millichap
• Mortgage Brokers: Brian Eisendrath, Cameron Chalfant & Jake Vitta - Institutional Property Advisors

This transaction was notable as it marked one of only three trades of 50+ unit properties in Brentwood over the past 25 years. Kevin Green, Joseph Grabiec, and Gregory Harris represented the seller, while TruAmerica Multifamily was sourced as the buyer. Acquisition financing was facilitated by Brian Eisendrath, Cameron Chalfant, and Jake Vitta from Institutional Property Advisors, a division of Marcus & Millichap.