BlackRock Acquires 142-Unit Multifamily Property In Thousand Oaks From The Latigo Group For $83M

The asset involved in the transaction is a 142-unit luxury multifamily property located at 299 East Thousand Oaks Boulevard in the Thousand Oaks market. Sold for $83,000,000, the property boasts a price per unit of $584,507. The building was completed in 2023, and it stands as the county's highest-rent multifamily property and the only new delivery in Thousand Oaks in the last 15 years.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $83,000,000
• Units: 142
• Price Per Unit: $584,507
• Buyer: BlackRock
• Seller: Mark Maron & Scott Whittaker - The Latigo Group
• Brokers: Jonathan Merhaut, Geoff Boler, Eugene Chong, Joseph Smolen & Blake Matsuda - Newmark
• Notable Transaction: First unleveraged institutional acquisition in Ventura County

BlackRock acquired the property through a managed account from The Latigo Group, represented in this deal by Mark Maron and Scott Whittaker. The brokerage team from Newmark, consisting of Jonathan Merhaut, Geoff Boler, Joseph Smolen, Eugene Chong, and Blake Matsuda, facilitated the transaction, marking a significant milestone in the local real estate market.