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Raintree Partners Acquires Multifamily Properties In Hollywood, Glendale, San Fernando Valley, And Camarillo For $142M

Property Image
SOLD
$142,000,000
Stewart (Stew) Weston
Dean Zander

California

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MultiFamily
Sold 11/24/2020
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Property Image
SOLD

Raintree Partners Acquires Multifamily Properties In Hollywood, Glendale, San Fernando Valley, And Camarillo For $142M

1738 Canyon Dr., 1120 Thompson Ave., 617 N. Las Posas Rd.

See Similar Deals
MultiFamily
Sold 11/24/2020
Stewart (Stew) Weston
Dean Zander
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale

Raintree Partners has acquired three multifamily properties in Hollywood, Glendale, San Fernando Valley, and Camarillo for a total price of $142,000,000. The properties are located at 1738 Canyon Dr., 1120 Thompson Ave., and 617 N. Las Posas Rd. The portfolio consists of 551 units, with an average price per unit of $257,713.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $142,000,000
  • Units: 551
  • Price Per Unit: $257,713

Dean Zander, Stew Weston, and John Montakab from CBRE represented Raintree Partners in the transaction.

Players

Dean Zander
Newmark
Dean Zander
34 deals$2.1B volume(310) 407-6522
BROKER
Stewart (Stew) Weston
Stewart Weston
25 deals$1.9B volume(562) 688-4500
BROKER
Walker & Dunlop
Walker & Dunlop
BROKERAGE
RP
Raintree Partners
BUYER

Details

SOLD
IMAGE: this post on Instagram   A post shared by Traded: Los Angeles ? (@tradedla) SALE IMAGE: Dean Zander, Stewart Weston & John Montakab DATE: 11/24/2020 ADDRESS: 1738 Canyon Dr., 1120 Thompson Ave., 617 N. Las Posas Rd. MARKET: Hollywood, Glendale, San Fernando Valley, Camarillo ASSET TYPE: Multifamily BUYER: Raintree Partners BROKERS: Dean Zander, Stew Weston & John Montakab – CBRE PRICE: $142,000,000 UNITS: 551 ~ PPU: $257,713

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$7,573,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$504,496.02
Cash-on-Cash Return-1.27%
Monthly Debt Service$673,152.45
Annual Debt Service$8,077,829.34