California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Goldrich Kest Acquires Tarzana Apartment Complex for $24M
Culver City, CA-based Goldrich Kest acquired Park Terrace, a 100-unit rent-controlled apartment complex in Tarzana, CA from Lion Real Estate Group for $23.95 million. Located at Reseda and Victory boulevards, the Spanish-style, two-story apartment building is adjacent to two other Goldrich Kest-owned and managed properties, Reseda on The Park and Reseda Gardens.
Goldrich Kest’s Michael Drandell says, “Located in the heart of the Tarzana and adjacent to two of our existing properties, Park Terrace is an ideal addition to our portfolio. Our goal is to continue improving our properties to reflect the changing nature of the market.”
With 55% of the units already remodeled, the company plans to continue making improvements as currently occupied apartments become available for rent. Units range in size from one bedroom/one bath to three bedrooms/two baths.
Marcus & Millichap’s Michael Sterman and Jeffrey Louks handled the deal.
The Connect Apartments Conference will take place June 20, 2019 in Los Angeles. For more information, or to register, click here.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition




