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OpenPath Investments Acquires Portofino Townhomes In Wilmington For $67.5M

Property Image
SOLD
$67,500,000

California

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MultiFamily
Sold 07/10/2023
the dealdetailscomps
Property Image
SOLD

OpenPath Investments Acquires Portofino Townhomes In Wilmington For $67.5M

1625 W Pacific Coast Hwy Wilmington, CA 90744, USA

See Similar Deals
MultiFamily
Sold 07/10/2023
the dealdetailscomps

Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale

OpenPath Investments has purchased the Portofino Townhomes, a 200-unit apartment property in Wilmington, California, for $67.5 million. The property is located at 1625 West Pacific Coast Highway and is situated in the Wilmington market. The multifamily asset offers one-, two-, and three-bedroom units with amenities such as a swimming pool, spa, and fitness center.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $67,500,000
  • Address: 1625 West Pacific Coast Highway
  • Market: Wilmington

Peter Slaugh of OpenPath Investments represented the buyer in the transaction. The seller, Virtu Investments, was represented by Kidder Mathews. The deal closed on 07/10/2023 with a purchase price per unit (PPU) of $337,500. The Portofino Townhomes offer a range of living options and are located approximately 20 miles south of Los Angeles.

Players

OI
OpenPath Investments
BUYER
VI
Virtu Investments
SELLER

Details

SOLD
IMAGE: Peter Slaugh DATE: 07/10/2023 ADDRESS: 1625 West Pacific Coast Highway MARKET: Wilmington ASSET TYPE: Multifamily BUYER: OpenPath Investments - Peter Slaugh SELLER: Virtu Investments (@VirtuInvestments) BROKER: Kidder Mathews (@Kidder.Mathews) SALE PRICE: $67,500,000 UNITS: 200 ~ PPU: $337,500 NOTE: OpenPath Investments has purchased the Portofino Townhomes, a 200-unit apartment property in Wilmington, California, for $67.5 million. The property, located 20 miles south of Los Angeles, offers one-, two-, and three-bedroom units with amenities such as a swimming pool, spa, and fitness center.

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