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Marcus & Millichap Completes $102M MF Portfolio Deal in L.A.
The Armor Collection, four multifamily portfolios in Los Angeles, has traded hands for a total of $102 million. The sales process commenced in early 2019 with the first portfolio closing in mid-October, and the last one only recently.
Marcus & Millichap’s Neema Ahadian says, “The first portfolio sale was marked by the unfortunate passing of our client, and the final portfolio closed as the effects of the coronavirus took hold of the economy.” Ahadian represented the client’s trust, Pasadena-based Private Trust Management Group, and procured the buyers.
Golden Bee Properties purchased the first five properties for $18.7 million; Cipolla Revocable Living Trust purchased three buildings in Wilmington totaling 62 units for $8.7 million; an undisclosed buyer acquired eight buildings in Mid-City totaling 175 units for $33.5 million; and a 300-unit, 10 building portfolio in Westlake was purchased by another undisclosed buyer for $42 million.
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- ◦Sale/Acquisition




