Ron Zeff Of Carmel Partners Acquires 244-Unit Stella Complex From Bill Huffman For $141M

The asset involved in this transaction is the 244-unit Stella complex located at 13488 Maxella Avenue in Marina del Rey. The sale price for this multifamily property was $141,000,000, resulting in a price per unit of $577,869. This sale marked the highest multifamily transaction in Marina del Rey in over a decade.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $141,000,000
• Units: 244
• Price Per Unit: $577,869
• Buyer: Ron Zeff - Carmel Partners
• Seller: Bill Huffman - Nuveen

Ron Zeff, representing Carmel Partners, completed the acquisition of the property, while Bill Huffman represented Nuveen as the seller. This transaction reflects the rarity of property trades in the area, with the Stella complex being sold for nearly $578,000 per unit, though this amount is lower than its 2013 sale price of $167.3 million.