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California  + Los Angeles  + Apartments  | 

San Fernando Valley Apartment Portfolio Fetches $85M

The Azzi Group at Marcus & Millichap closed 2024 with the $85-million sale of the San Fernando Valley portfolio. The portfolio featured 596 apartment units across 16 parcels, reportedly making it the largest multifamily deal in the Valley this past year and the sixth largest in Los Angeles County for 2024.

“This highly competitive process attracted 28 offers, showcasing the strength of the market and our ability to navigate complex deals with strategic execution and collaboration,” the group said in a LinkedIn posting. Tony Azzi served as the seller’s agent, while the buyers’ agents included Rabbie Banafsheha, Kristen Sullivan and Arteen Zahiri.

The group has several active listings and is also under contract for four major deals, including Silverlake Towers in Los Angeles.

This property was marketed on Connect CRE’s sister site, ApartmentBuildings.com. Click here for more investment opportunities in market-rate multifamily, affordable housing, single-family rentals, senior housing and student housing across the U.S. and Canada.

Read More News Stories About: Marcus & Millichap
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Marcus & Millichap's Azzi Group

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-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 7-10 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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