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

Property Image
SOLD
$126,000,000

California

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MultiFamily
Sold 09/22/2025
the dealdetailscomps
Property Image
SOLD

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

600 North Central Avenue

See Similar Deals
MultiFamily
Sold 09/22/2025
the dealdetailscomps

Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale

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.

Players

Mill Creek Residential
Mill Creek Residential
SELLER
Rockwood Capital
Rockwood Capital
SELLER

Details

SOLD
IMAGE: Tony Mestres & William MacDonald DATE: 09/22/2025 ADDRESS: 600 North Central Avenue MARKET: Glendale ASSET TYPE: Multifamily BUYER: Tony Mestres - The Sobrato Organization (@Sobrato_Org) SELLER: William MacDonald - Mill Creek Residential (@MillCreekResidential); Rockwood Capital SALE PRICE: $126,000,000 UNITS: 235 ~ PPU: $536,170 NOTE: The Sobrato Organization bought the 235-unit Modera Glendale, renamed The Adeline, for $126M ($536K/unit) from Mill Creek Residential and Rockwood Capital. The April 23 deal was the largest multifamily sale in both Glendale and Los Angeles County last quarter, far exceeding the market’s $269K average per unit.

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