Concord Companies Purchases Multifamily Properties In Los Angeles For $54 Million

The property asset involved in this transaction is a multifamily housing development located at 715 South Normandie Avenue, 682 Irolo Street, 841 South Serrano, and 1811 Whitley Avenue in the Los Angeles market. The transaction was completed for a total price of $54,000,000, which translates to a price per unit of $147,138. The entire asset encompasses 287,650 square feet, resulting in a price per square foot of $187.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $54,000,000
• Units: 367
• Square Footage: 287,650
• Price Per Unit: $147,138
• Price Per Square Foot: $187

The key individuals involved in this transaction include Reuben Robin, Jonathan Fhima, Ryan Marder, and Joe Goldstein, who represented Concord Companies as buyers. The brokers facilitating the deal were Janet Neman and Angelica Gotzev from Kidder Mathews.