A four-building 83-unit multifamily portfolio in the San Fernando Valley has traded hands in a court-ordered partition. The buyer, Silvan LLC, purchased the property for $13.1 million in an overbid procedure. The properties are located in the highly popular and densely populated North Hollywood and Panorama City markets. There was high demand for both the individual assets as well as the whole portfolio.
The four properties include a 10-unit property located at 8849 Van Nuys Blvd in Panorama City, totaling 10,310 square feet; a 26-unit property totaling 24,234 square feet, located at 7817 Ventura Canyon Ave. in Panorama City; a 25-unit property totaling 22,501 square feet, located at 6943 Whitsett Ave in North Hollywood; and a 22-unit property totaling 19,101 square feet, located at 6961 Whitsett Ave in North Hollywood.
CBRE's Laurie Lustig-Bower and Kamran Paydar represented both the buyer and the seller in the deal.
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Kelsi Maree Borland
