Jones & Jones Communities Acquires Multifamily Portfolio In San Fernando Valley For $70.5M

The transaction involved the sale of a multifamily property located at 17200 Burbank Blvd, 10831 Fruitland Drive, and 5259 Sepulveda Blvd in San Fernando Valley. The property consists of 216 units and was sold for a total price of $70,500,000, resulting in a per unit price of $326,388.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $70,500,000
• Date: 08/03/2022
• Market: San Fernando Valley
• Buyer: Jones & Jones Communities & Other Private Investors
• Seller: Venture Property Management
• Brokers: Adrienne Barr & Mitchell Shapiro - Berkadia

The buyers in this transaction were Jones & Jones Communities and other private investors, while the seller was Venture Property Management. The deal was represented by brokers Adrienne Barr and Mitchell Shapiro of Berkadia.