Tower Lane Capital JV Bold Partners Sells Multifamily Asset At 11900 Courtleigh Drive For $16.7M

The property asset involved in this transaction is a multifamily building located at 11900 Courtleigh Drive in Mar Vista. The sale price for the asset was $16,700,000, comprising 28 units. The total square footage of the building is 35,000, leading to a price per unit of $596,428 and a price per square foot of $477.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $16,700,000
• Units: 28
• Square Footage: 35,000
• Price Per Unit: $596,428
• Price Per Square Foot: $477
• Seller: Tower Lane Capital JV Bold Partners
• Sales Broker: Luc Whitlock - JLL
• Debt Advisors: Marc Schillinger & Keaton Yellin - JLL

The individuals involved in this transaction include Luc Whitlock representing the seller, and debt advisors Marc Schillinger and Keaton Yellin, both from JLL. Note that JLL arranged 60%+ LTV life company financing for the purchase, priced at 1.30% over treasuries with full term interest only.