TriWest Multifamily Acquires Azusa Gardens Multifamily Asset From Kae Soon Choe For $29.3M

The property involved in the transaction is a multifamily asset located at 601 East 8th Street in Azusa, featuring 112 units. The sale price for the property was $29,300,000, resulting in a price per unit of $261,607. The total square footage of the asset is 96,496, which equates to a price per square foot of $303.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $29,300,000
• Units: 112
• Square Footage: 96,496
• Price per Unit: $261,607
• Price per Square Foot: $303
• Buyer: TriWest Multifamily
• Seller: Kae Soon Choe
• Brokers: Eric Mandell, Rick Ramirez, Cameron Greco, Luc Hawkshaw, Jeffrey Ahn & Esther Kelch - Ally Commercial Real Estate

This transaction highlights the successful efforts of the brokers from Ally Commercial Real Estate, who demonstrated their market expertise and extensive network. The asset was entrusted to them for an exclusive sale, and they effectively connected the property with a qualified exchange buyer, facilitating a seamless transaction that reinvested out-of-state capital back into California.