Abacus Capital Group Acquires Multifamily Complex In Sherman Oaks For $72.5M

The multifamily property located at 4735 Sepulveda Boulevard in Sherman Oaks was sold for $72.5 million. The asset consists of 236 units with a price per unit of $307,203. Spanning 271,800 square feet, the property was acquired by Abacus Capital Group and financed through a $43.4 million loan from JLL Real Estate Capital. The seller, Bruce Ward of Alliance Residential Company, facilitated the transaction.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $72,500,000
• Buyer: Ben Friedman - Abacus Capital Group
• Seller: Bruce Ward - Alliance Residential Company
• Lender: JLL Real Estate Capital
• Units: 236
• Square Footage: 271,800
• Price Per Unit: $307,203
• Price Per Square Foot: $267

Abacus Capital Group, a New York-based firm, continues to expand its Los Angeles portfolio with the acquisition of the Sherman Oaks residential complex. This purchase adds to their existing properties in the region, such as The Atrium at West Covina and Eton Warner Center. The financing for this transaction was provided by JLL Real Estate Capital, further solidifying the relationship between the buyer and the lender in the real estate market.