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600 North Central Avenue

Updated Sep 25, 2025

Tony Mestres Of The Sobrato Organization Acquires The Adeline Multifamily In Glendale For $126M
SOLDMultiFamily

Tony Mestres Of The Sobrato Organization Acquires The Adeline Multifamily In Glendale For $126M

600 North Central Avenue

$126,000,000

Units

235

Asset Type

MultiFamily

Closing

Sep 22, 2025

About this deal

AI

The property asset involved in the transaction is a multifamily development located at 600 North Central Avenue in Glendale. This asset consists of 235 units and was sold for a total price of $126,000,000, resulting in a price per unit of $536,170. The transaction marks a significant point in the market, as it surpasses the average market value of $269,000 per unit in Los Angeles County last quarter.

Summary of transation details:

  • Property Type: Multifamily
  • Transaction Amount: $126,000,000
  • Units: 235
  • Price Per Unit: $536,170
  • Buyer: Tony Mestres - The Sobrato Organization
  • Seller: William MacDonald - Mill Creek Residential; Rockwood Capital

Key individuals involved in this transaction include Tony Mestres representing The Sobrato Organization as the buyer and William MacDonald representing both Mill Creek Residential and Rockwood Capital as the seller. This deal, finalized on September 22, 2025, reflects significant activity within the Glendale and Los Angeles multifamily market.

On the Map

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$126,000,000

MultiFamily

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Players

Tony Mestres

Buyer

$193.7M

vol

5 deals

Buyer

William MacDonald

Mill Creek Residential

Seller

$601.3M

vol

6 deals

Seller
Rockwood Capital
Rockwood Capital Seller
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Glendale MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $536.2K per unit across 235 units on a published $126M (2025).

Visit William (Bill) MacDonald to view all their deals.

Browse Glendale multifamily sales on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.13%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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