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California  + Los Angeles  + Apartments  | 

Chatsworth Multifamily Deal Highlights Appeal of Core LA Submarkets

Institutional Property Advisors (IPA), a division of Marcus & Millichap, closed the sale of 9733 Topanga Canyon, a 119-unit multifamily property in the Chatsworth neighborhood of Los Angeles. The property sold for $44 million, which represents $369,748 per unit.

“9733 Topanga Canyon was acquired to satisfy a 1031 exchange,” said Kevin Green, IPA executive managing director. “The buyer sought a high-quality, stabilized asset in a market with strong fundamentals and long-term growth potential.”

Green, Joseph Grabiec and Gregory Harris of IPA represented the seller, a private multifamily investment firm, and procured the buyer, Amoroso Companies. Brian Eisendrath and Cameron Chalfant of IPA Capital Markets arranged $27.4 million in agency financing.

“The financing structure we arranged allowed the buyer to lock in long-term fixed-rate debt and execute a smooth 1031 exchange within a tight timeline,” said Chalfant. “Lenders continue to show strong appetite for high-quality multifamily assets in core Los Angeles submarkets.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
  • ◦Financing
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