Standard Communities Acquires MultiFamily Portfolio In San Dimas, Reseda, North Hills, And Los Angeles For $106.4M

The recently completed property transaction in San Dimas, Reseda, North Hills, and Los Angeles involved the sale of multiple multifamily assets. The properties include 249 S Acacia Street, 17760 Sherman Way, 15223 Rayen St, 8606 Columbus Ave, 5301 Via Marisol, and 1920 S. Oxford Ave. With a combined total of 407 units, these properties have a price per unit (PPU) of $261,425. The total square footage of the properties is 320,000, with an average price per square foot (PPSF) of $333. The transaction took place between the buyer, Standard Communities, and the seller, Goldrich Kest, with brokerage services provided by Dean Zander and Stewart Weston of CBRE.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $106,400,000
• Units: 407
• Price Per Unit (PPU): $261,425
• Total Square Footage: 320,000
• Price Per Square Foot (PPSF): $333

The deal was facilitated by Dean Zander and Stewart Weston of CBRE, who served as brokers for the transaction. Their expertise and negotiation skills helped streamline the process and ensure a successful outcome. Standard Communities, the buyer, displayed confidence in the market potential of these properties by making a significant investment. Goldrich Kest, the seller, recognized the opportunity to monetize their assets and move forward with their strategic objectives. The sale price of $106,400,000 reflects the value placed on these well-positioned multifamily properties in diverse locations across San Dimas, Reseda, North Hills, and Los Angeles.