Hanes Investment Realty Acquires Multifamily Property From Lynn Villas For $27.4 Million

A multifamily property located at 693 Mccloud Avenue in Thousand Oaks was sold for $27,400,000. The asset features 89 units and spans a total of 84,534 square feet, resulting in a price per unit of $307,865 and a price per square foot of $324.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $27,400,000
• Units: 89
• Square Footage: 84,534
• Price Per Unit: $307,865
• Price Per Square Foot: $324
• Buyer: Hanes Investment Realty
• Seller: Lynn Villas
• Broker Representatives: Adrienne Barr, George Spadier, Keith Rosso & Jeremy Kanter - Berkadia
• Loan Amount: $17,500,000
• Loan Type: Fixed-rate bridge loan
• Lender: Correspondent insurance company

Berkadia facilitated the transaction, with the involvement of representatives Adrienne Barr, George Spadier, Keith Rosso, and Jeremy Kanter, organized to support the acquisition and the corresponding financing arrangements.