Ronald M. Dickerman Of Madison International Realty Acquires 507 Unit Multifamily Property In Los Angeles For $161.2M

The sale involved a multifamily asset located at 6200 Hollywood Boulevard in Los Angeles, encompassing a total of 507 units. The transaction was completed for a price of $161,200,000, resulting in a per unit price of $317,949. This acquisition occurred despite rising vacancy rates in the Los Angeles multifamily market, which reached 5.6%, alongside flat rents and increasing cap rates.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $161,200,000
• Address: 6200 Hollywood Boulevard
• Market: Los Angeles
• Units: 507
• Price Per Unit: $317,949
• Buyer: Ronald M. Dickerman - Madison International Realty
• Seller: DLJ RE Capital Partners

Ronald M. Dickerman represented Madison International Realty in the acquisition of El Centro Apartments and Bungalows from DLJ RE Capital Partners. The property purchase reflects a premium of 14% over the average market value in Los Angeles for similar multifamily assets.