Fairfield Residential Acquires Multifamily Asset In Valencia For $62M

The multifamily property located at 24555 Town Center Dr. in Valencia has been sold in a recent transaction. The sale, which took place on September 10, 2021, involved a total of 130 units. The property was acquired by Fairfield Residential from the seller, Gemdale USA. The deal was facilitated by Kevin Green, Joseph Grabiec, and Gregory Harris of Institutional Property Advisors, a division of Marcus & Millichap. The sale price of the property was $62,000,000, resulting in a per-unit price of $476,923.

Summary of Transaction Details:

• Property Type: Multifamily
• Transaction Amount: $62,000,000
• Address: 24555 Town Center Dr.
• Market: Valencia
• Buyer: Fairfield Residential
• Seller: Gemdale USA
• Brokers: Kevin Green, Joseph Grabiec, and Gregory Harris - Institutional Property Advisors (Marcus & Millichap)
• Units: 130
• Price Per Unit: $476,923

The involvement of Kevin Green, Joseph Grabiec, and Gregory Harris of Institutional Property Advisors was instrumental in facilitating the successful sale of the multifamily property. Fairfield Residential, the buyer, recognized the value and potential of the property, leading to their decision to acquire it from Gemdale USA. This transaction highlights the expertise and professionalism of the brokers, as well as the favorable market conditions in Valencia.