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Lion Real Estate Group sells the Park Terrace Apartments in Reseda, California, a suburb of Los Angeles, for $23.95 million. Lion purchased the property in March 2015 for $15.5 million. During its ownership, it renovated 62% of the property and increased the NOI by 35%.

Park Terrace Apartments is a 100-unit complex located at 6425 Reseda Boulevard. It features swimming pool, fitness center, sauna, clubhouse, picnic/BBQ area, courtyard, bike racks and covered parking.

Marcus and Millichap's Jeff Louks and Michael Sterman brokered the transaction.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

Los Angeles
Multifamily
Capital Markets
West