BlackRock Makes Ventura County’s First Unleveraged Institutional Deal
Newmark arranged the sale of Santal Thousand Oaks, a 142-unit mid-rise multifamily property located in Thousand Oaks. The transaction represents the first unleveraged institutional purchase in Ventura County history, according to Newmark.
Vice chairman Jonathan Merhaut, executive vice chairmen Geoff Boler and Joseph Smolen, senior managing director Eugene Chong and director Blake Matsuda advised the seller, The Latigo Group. The buyer was an account managed by BlackRock.
Located at 299 Thousand Oaks Blvd., Santal Apartments was built in 2023 and commands the highest multifamily rents in Ventura County, Newmark said. Reportedly it’s the only multifamily asset delivered in Thousand Oaks in the past 15 years.
“Santal represents a transformative multifamily transaction for Ventura County and Thousand Oaks,” said Merhaut. “This sale marks the first deployment of unleveraged pension fund capital into a multifamily asset in Ventura County. We are thrilled to have facilitated this landmark sale on behalf of The Latigo Group to an account managed by BlackRock.”
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout