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Bryan Gortikov Of Gortikov Capital Acquires Samo Collection Multifamily Portfolio For $120M In Santa Monica

Property Image
SOLD
$120,000,000

California

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MultiFamily
Sold 10/14/2024
the dealdetailscomps
Property Image
SOLD

Bryan Gortikov Of Gortikov Capital Acquires Samo Collection Multifamily Portfolio For $120M In Santa Monica

2029 Olympic Boulevard

See Similar Deals
MultiFamily
Sold 10/14/2024
the dealdetailscomps

Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale

The asset involved in this transaction is a multifamily portfolio known as the Samo Collection, which comprises 399 affordable housing units distributed across 11 buildings. This portfolio is located at 2029 Olympic Boulevard in Santa Monica and was sold for a total transaction amount of $120,000,000. The price per unit (PPU) for the property stands at $300,752.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $120,000,000
  • Units: 399
  • Price Per Unit: $300,752
  • Address: 2029 Olympic Boulevard
  • Market: Santa Monica

Key individuals in this transaction include Bryan Gortikov, representing Gortikov Capital, who acted as the buyer in this deal. Gortikov Capital plans to implement targeted renovations and operational improvements in the portfolio while expanding affordability. The firm has now gained control of 23% of Santa Monica's affordable housing inventory, specifically those units constructed after 1990.

Details

SOLD
IMAGE: Bryan Gortikov DATE: 10/14/2024 ADDRESS: 2029 Olympic Boulevard MARKET: Santa Monica ASSET TYPE: Multifamily BUYER: Bryan Gortikov (@b.gort) - Gortikov Capital SALE PRICE: $120,000,000 UNITS: 399 ~ PPU: $300,752 NOTE: Gortikov Capital acquired the Samo Collection, a portfolio of 399 affordable housing units across 11 buildings in Santa Monica, for $120 million. The firm plans targeted renovations and operational improvements while expanding affordability, now controlling 23% of the city's post-1990 affordable housing inventory.

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