California + Los Angeles + Apartments | May 22, 2023

IPA Lists Two-Property Portfolio in Thousand Oaks

Institutional Property Advisors (IPA), a division of Marcus & Millichap, has listed for sale a two-property, 399-unit multifamily portfolio in Thousand Oaks, within Ventura County. The portfolio includes Los Robles Apartments, a 253-unit property built in 1972 and The Retreat at Thousand Oaks, a 146-unit apartment community constructed in 1966.

The properties are approximately one mile apart and are offered for sale as individual assets or as a portfolio.

“This is a rare opportunity to acquire a sizeable footprint in Ventura County’s best housing submarket with strong future growth potential,” said Kevin Green, El Segundo-based IPA executive managing director investments.

He continued, “The properties, representing 11% of the total market-rate housing stock in Thousand Oaks, offer investors 7% to 8% upside in rental income via loss-to-lease capture, and attractive assumable, non-recourse, interest-only agency financing with favorable leverage at approximately 3.85% fixed interest rates.”

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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 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).

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