The property asset involved in this transaction is a multifamily complex located at 28125 Peacock Ridge Drive in Rancho Palos Verdes. The sale price of the property was $127,000,000, which breaks down to approximately $494,163 per unit. The complex comprises a total of 257 units and is situated in a market characterized by limited multifamily supply and high demand.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $127,000,000
• Units: 257
• Price per Unit: $494,163
• Buyer: Julie Schoenbachler - The Bascom Group LLC
• Brokers: Blake Rogers & Kevin Sheehan - JLL
• Lender: AXA Investment Managers
• Mortgage Brokers: Annie Rice & Jamie Kline - JLL

Julie Schoenbachler represented The Bascom Group LLC in the acquisition of Highridge Apartments, while Blake Rogers and Kevin Sheehan represented JLL for the transaction. The financing for the deal was arranged by JLL, with AXA Investment Managers providing the loan. The Bascom Group plans to undertake Class A renovations to enhance the property within a strong demographic market.