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Matthews Completes 17-Property SoCal MF Portfolio Transaction for $108M
Matthews Real Estate Investment Services handled the sale of 17 multifamily properties in Southern California for a combined transaction value of $108 million. The buyer was El Segundo-CA-based NextGen Apartments LLC. The seller was an unnamed private individual who owned the assets for more than 20 years.
The portfolio was sold in two parts with 15 of the assets totaling 185 units traded in a private transaction, and another two-property portfolio totaling 55 units. The assets are located at 21818 Figueroa St. in Carson, and 25829 Viana Ave. in Lomita.
NextGen plans to utilize its knowledge of the South Bay market and leverage its vertically integrated operating platform to execute their business plan. The seller’s motivation was to unwind their multifamily portfolio and exchange into other real estate investments with less management responsibilities.
Matthews’ David Harrington and Michael Astorian brokered the portfolio sale.
*Pictured 1110 Barbara St. Redondo Beach
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
