Jim Lippman And Danny Lippman Purchase Multifamily Properties For $315M From David Schwartz And Matt Kelly

The transaction involved the sale of two multifamily properties, located at 13401 Riverside Drive in Sherman Oaks, CA, and 1255 25th Street Northwest in Washington, DC. The total sale price reached $315,000,000 for a combined total of 684 units, leading to a price per unit of $460,526.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $315,000,000
• Buyer: Jim Lippman & Danny Lippman - JRK Property Holdings
• Seller: David Schwartz - Waterton & Matt Kelly - JBG Smith
• Brokers: Cushman & Wakefield & Berkadia
• Units: 684
• Price Per Unit: $460,526

JRK Property Holdings acquired the two properties, Chase Knolls in Los Angeles with 401 units from Waterton, facilitated by Cushman & Wakefield, and WestEnd25 in Washington, D.C. with 283 units from JBG Smith, brokered by Berkadia. The acquisitions were financed through JRK’s Platform 5 and MF Opportunities III funds, with plans for value-add upgrades for both assets.