Updated Oct 29, 2024
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.
$142,000,000
Units
551
Asset Type
MultiFamily
Closing
Nov 23, 2020
About this deal
AI
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
Glendale MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93