CBRE Facilitates $10M Sale Of Encino Multifamily Property With Acquisition Loan Deal

The Encino Country Club Apartments, a 43-unit multifamily property located at 17000 Burbank Boulevard in Encino, was sold for $10,000,000. With 37,000 square feet of space, the property was acquired at a price per unit of $232,558 and a price per square foot of $270.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $10,000,000
• Units: 43
• Price Per Unit: $232,558
• Square Footage: 37,000
• Price Per Square Foot: $270
• Address: 17000 Burbank Boulevard
• Market: Encino

Gianni Novo, a mortgage broker from CBRE, facilitated an acquisition loan covering 83% of the purchase price for the undisclosed buyer. Dan Blackwell and Priscilla Nee, also from CBRE, represented both the seller and the buyer in the transaction. The buyer is a private investor who aims to enhance the property through a value-add program.