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California  + Los Angeles  + Apartments  | 

Developer Trades Brentwood Portfolio After 60-Year Hold 

A four-building, 36-unit multifamily portfolio in Brentwood has been sold by original ownership for $17.165 million. The buyer is a local real estate investor and developer, who acquired the portfolio ff-market in a 1031 exchange. Kidder Mathews’ Michael Monempour represented both parties. 

The buildings were constructed in the 1960s and have remained under original family ownership for 60 years. The buyer has built and maintained ownership of several apartment buildings in the Brentwood neighborhood.  

“A portfolio sale of this caliber does not often happen in West LA.,” said Monempour.”Even with rising interest rates, the properties sold at premium values. The seller’s motivation was due to the rent control policies that LA has adopted. They felt it was time to finally let go of these properties and were able to trade out of these assets for commercial properties that better suit their needs.” 

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Inside The Story

Kidder Mathews' Monempour

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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
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