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

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.