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MG Properties Group Acquires Carillon Apartment Homes In Woodland Hills For $93M

Property Image
SOLD
$93,000,000

California

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MultiFamily
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Property Image
SOLD

MG Properties Group Acquires Carillon Apartment Homes In Woodland Hills For $93M

6301 De Soto Ave, Woodland Hills, CA...

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MultiFamily
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Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale

The Carillon Apartment Homes, a multifamily property located in the Warner Center/Woodland Hills area of Los Angeles, was sold for $93 million. The property, built in 2008 on five acres, comprises 264 apartment units across 235,214 square feet.

Summary of transaction details:

Institutional Property Advisors (IPA), a division of Marcus & Millichap, consisting of Greg Harris, Kevin Green, and Joseph Grabiec, represented the seller and facilitated the deal for the buyer, MG Properties Group. Fairfield Warner LLC, represented by Fairfield Residential, was the selling entity.

Players

Ronald Harris
3 deals$311.8M volume
BROKER

MG Properties
BUYER

Details

SOLD
IMAGE: 6301 De Soto Ave, Woodland Hills, CA... MARKET: Woodland Hills ASSET TYPE: MultiFamily SELLER'S REP: Ronald Harris(Marcus & Millichap) BUYER: MG Properties Group PRICE: $93,000,000.00

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$4,960,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$330,409.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$440,867.45
Annual Debt Service$5,290,409.36