MWest Holdings Acquires Long Beach Multifamily For $48.5M

The multifamily property located at 442 W. Ocean Boulevard in Long Beach has been sold for a price of $48,500,000. The sale took place on 02/19/2022, and the property consists of 94 units. With a price per unit (PPU) of $515,957, this transaction marks a significant investment in the Long Beach market.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $48,500,000
• Address: 442 W. Ocean Boulevard
• Market: Long Beach
• Buyer: MWest Holdings
• Seller: Ensemble Real Estate Investments
• Brokers: Kevin Shannon, Ken White, Chris Benton, and Anthony Muhlstein - Newmark

The deal was facilitated by the brokers Kevin Shannon, Ken White, Chris Benton, and Anthony Muhlstein from Newmark. Their expertise and negotiation skills played a crucial role in successfully closing this transaction. MWest Holdings acted as the buyer, while Ensemble Real Estate Investments served as the seller, demonstrating their involvement in the property market.