AEW Capital Management Acquires Canoga Park & Northridge Multifamily For $42.2M

The multifamily property located at 21611 Saticoy St, 19201 Nordhoff St, and 9907 White Oak Ave in Canoga Park and Northridge has been sold. The transaction took place on April 5, 2023. The property consists of 220 units and was sold for a total price of $42,200,000, equating to an average price per unit of $191,818. The buyer of the property was AEW Capital Management, while the seller was The ConAm group. The sale of this multifamily asset was facilitated by the brokerage team consisting of Vince Norris, Mike Smith, Jim Fisher, Mike Hanassab, and Elliot Hassan from Northmarq.

Summary of Transaction Details

• Property Type: Multifamily
• Transaction Amount: $42,200,000
• Units: 220
• Price Per Unit (PPU): $191,818
• Address: 21611 Saticoy St, 19201 Nordhoff St, and 9907 White Oak Ave
• Market: Canoga Park and Northridge

The sale was completed with the assistance of AEW Capital Management as the buyer and The ConAm Group as the seller. The deal was managed by the experienced brokerage team at Northmarq, comprising Vince Norris, Mike Smith, Jim Fisher, Mike Hanassab, and Elliot Hassan. These individuals played a crucial role in facilitating the successful sale of the multifamily property.