Black Equities Group Acquires Santa Monica Multifamily For $39.5M

The multifamily property located at 1915 Ocean Way in Santa Monica has been sold for a total of $39,500,000. The property consists of 70 units, with a price per unit of $564,285.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $39,500,000
• Address: 1915 Ocean Way
• Market: Santa Monica

The buyer of the property is Black Equities Group, represented by Stanley Black. The seller is Equity Residential, represented by Mark Parrell and Sam Zell. The transaction was facilitated by Joseph Grabiec, Greg Harris, and Kevin Green from Institutional Property Advisors, which is part of Marcus & Millichap.