Raintree Partners Acquires Multifamily Property In La Crescenta-Montrose For $34.5M

Located in La Crescenta-Montrose, the multifamily property at 3250 Fairesta St has recently been sold. The transaction took place on 12/17/2019, with a sale price of $34,500,000. The property consists of 231 units, resulting in a price per unit of $149,350. This acquisition was made by Raintree Partners, represented by Aaron Hancock. The sellers, Stockbridge and NNC Apartment Ventures, entrusted the sale to Kevin Green, Joe Grabiec, and Greg Harris of IPA (Marcus & Millichap).

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $34,500,000
• Address: 3250 Fairesta St
• Market: La Crescenta-Montrose
• Units: 231
• Price Per Unit: $149,350
• Seller: Stockbridge & NNC Apartment Ventures
• Buyer: Raintree Partners - Aaron Hancock
• Brokers: Kevin Green, Joe Grabiec, Greg Harris - IPA (Marcus & Millichap)

Aaron Hancock of Raintree Partners played a key role as the buyer in this transaction. Representing the sellers, Stockbridge and NNC Apartment Ventures, were Kevin Green, Joe Grabiec, and Greg Harris of IPA (Marcus & Millichap). Together, these individuals and companies facilitated the successful sale of this multifamily property at 3250 Fairesta St.