John Walsh of the firm's Encino office represented the buyer, Security Properties, Inc. of Seattle, through the firm's national network. Walsh is a member of Marcus & Millichap¹s National Multi Housing Group, a division of the firm focused exclusively on the brokering of apartment investment properties.
Cushman & Wakefield represented the seller, Bixby Ranch Company. The luxury, class A Channel Point complex is located at 5926 Bixby Village Dr. Channel Point was constructed in 1986 and includes a total rentable area of 183,832 sf on 11.31 acres.
At the time of the sale, the apartment complex was fully occupied. The $31 million sale price represents $148,585 per unit.
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