The Perch, a five-story apartment asset, located on the border of the Eagle Rock and Highland Park neighborhoods in Los Angeles was sold by Roundhouse Development to ABRA Management for $28.7 million. Completed in 2018, the property features 59 one-, two-, and three-bedroom layouts, two levels of structured parking, an outdoor lounge with firepit, gated parking, and electric vehicle charging stations. The Perch also includes 2,646 square feet of retail space occupied by Hilltop Coffee + Kitchen and Perch Salon.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $28,700,000.00
• Address: 4247 Eagle Rock BLVD, Los Angeles
• Market: Los Angeles
• Seller's Representative: Paul Darrow (Walker & Dunlop)
• Buyer: Abro Management

Paul Darrow of Marcus & Millichap, along with Kevin Green, Joseph Grabiec, and Greg Harris of Institutional Property Advisors represented the seller, Roundhouse Development, and facilitated the transaction with the buyer, ABRA Management.