Phoenix Realty Group Acquires Multifamily Property In Hollywood For $69.56M

In a recent closed transaction in Hollywood, a multifamily property located at 812 S. Park Road changed hands. The property, consisting of 316 units, was sold for a total price of $69,560,000, at an average price per unit of $220,127. The sale was facilitated by E. Ron Orgel of Phoenix Realty Group, representing the buyer, and the seller was American Landmark Apartments, represented by Joe Lubeck and Jim Miller.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $69,560,000
• Address: 812 S. Park Road
• Market: Hollywood

This significant transaction was financed by JLL Real Estate Capital. The involvement of these key individuals and companies, such as E. Ron Orgel of Phoenix Realty Group, American Landmark Apartments represented by Joe Lubeck and Jim Miller, and the lender JLL Real Estate Capital, played a pivotal role in the successful completion of the deal.