Material Comforts Inc. Acquires Multifamily Portfolio In San Fernando Valley For $85 Million
$85,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Jan 6, 2025
AI
A multifamily portfolio was sold for $85 million, encompassing 596 units. The properties are located across 16 parcels in the markets of Van Nuys, Panorama City, North Hills, and Canoga Park. The price per unit amounts to $142,617.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $85,000,000
- Units: 596
- Price Per Unit: $142,617
- Buyer: Yaacov Brenenson - Material Comforts Inc.
- Seller: Maury R. Tognarelli - Heitman LLC; Andrew Schlossberg - Invesco LTD; Jennifer Keith & Adam Siegman - ETHOS Real Estate
- Brokers: Arteen Zahiri, Kristen Sullivan, Rabbie Banafsheha & Tony Azzi - Marcus & Millichap
The sale was brokered by Marcus & Millichap, facilitating the transaction between the Florida-based buyer, Material Comforts Inc., and the sellers, Heitman LLC, Invesco LTD, and ETHOS Real Estate.
Players
Market MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93