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IPA Brokers Eight-Property, $162M SoCal MF Deal
Van Nuys-based Sikand Properties divested eight multifamily assets encompassing 644 units for $161.9 million. Located across several SoCal communities, the properties had been held by the private ownership group for more than three decades. There were five different buyers that purchased the properties.
Institutional Property Advisors’ Ronald Harris, Greg Harris, Kevin Green and Joe Grabiec, as well as Marcus & Millichap’s Bryan Schellinger, brokered the deal.
The assets included:
– Tamarind Terrace, a 112-unit building at 1950 Tamarind Ave. in Hollywood, purchased by Laguna Niguel-based Raintree Partners
– Vista del Madre Apartments, a 28-unit building at 2405-2415 Mohawk St. in Pasadena, purchased by Palos Verdes Estates-based Harmony Court Investment
– Oaktree Apartments, a 148-unit property at 22900 Oak Ridge Dr. in Santa Clarita, acquired by Westside-based Oak Ridge Drive Fee Owner
– Stillmore Apartments, 130 units located at 19306, 19326, 19400 and 19436 Stillmore St. in Canyon Country, purchased by Foothill Ranch-based Wedgewood Inc.
Palms-based LA Apartments reportedly acquired: Regency Apartments (88 units in Van Nuys), Foothill Village Apartments (60 units in Sylmar), Sylvan Apartments (43 units in Van Nuys) and Woodley Court (35 units in Van Nuys).
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


