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Raintree Snags 7-Asset MF Portfolio in Glendale for $79M
Orange County, CA-based Raintree Partners acquired a portfolio of seven multifamily properties totaling 231 units in Glendale, CA for $79 million. The assets were acquired from an unnamed private seller who had owned the assets for many years. The properties will be rebranded as The Indie Collection.
Raintree Partners’ Ian Couwenberg says, “Over the past several years, we’ve successfully amassed economies of scale in select submarkets through targeting multifamily properties under 100 units. This has allowed us to optimize management efficiency and build a portfolio of properties in the best urban submarkets of Los Angeles, which we could not penetrate by focusing exclusively on larger assets.”
The properties include:
Stanley Oaks Apartments, an 80-unit community at 1435 Stanley Ave. (pictured)
Everett Apartments, an 8-unit community at 138 N. Everett St.
Wilson Apartments, a 14-unit community at 1458-1462 E. Wilson Ave.
Justin Oaks Apartments, a 54-unit community at 1133 Justin Ave.
Chestnut Apartments, a 33-unit community at 120 W. Chestnut St.
Galleria Pointe Apartments, a 22-unit community at 1140 N. Columbus Ave.
Burchett Apartments, a 20-unit community at 314-320 W. Burchett St.
The Mogharebi Group’s Alex Mogharebi and Otto Ozen represented the seller. Wells Fargo provided the acquisition financing.
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- ◦Sale/Acquisition




