Standard Communities, Faring & California Statewide Development Authority Acquire Multifamily Asset In Hawthorne For $144M

The multifamily property located at 12530 Crenshaw Boulevard in Hawthorne has been sold for $144,000,000. The property consists of 230 units, with an average price per unit of $626,086. The total square footage of the property is 201,783, and the price per square foot is $713.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $144,000,000
• Units: 230
• Price per Unit: $626,086
• Square Footage: 201,783
• Price per Square Foot: $713

The buyer of the property is Standard Communities, Faring, and the California Statewide Development Authority. They have acquired the property from The Dinerstein Companies. Sean Deasy, Peter Yorck, and Nick Lavin from JLL Capital Markets represented both the buyer and seller in this transaction.