IPA Arranges $107M San Gabriel Valley Multifamily Buy
Institutional Property Advisors (IPA), a division of Marcus & Millichap serving the company’s institutional clients, arranged the sale and financing of Hills at Hacienda Heights, a 350-unit multifamily property in the San Gabriel Valley community of Hacienda Heights. The asset sold for $107 million, or $305,714 per unit.
“We are excited to close our first transaction with Eagle Partners,” said Kevin Green, IPA executive managing director. “They demonstrated strong execution throughout the transaction, moving efficiently from due diligence through closing.” Green, Joseph Grabiec and Gregory Harris of IPA represented the seller and procured the buyer, Eagle Partners.
Brian Eisendrath, Cameron Chalfant, Jake Vitta and Tyler Johnson of IPA Capital Markets arranged $71,017,000 in acquisition financing. “Given the property’s location in a submarket with limited new supply and a widening affordability gap, this positioned Eagle Partners to execute a significant affordable housing conversion that meets an important local need,” said Johnson.
Built in 1970 and undergoing renovations since 2015, the property is within commuting distance of more than 2.5 million jobs in the City of Industry, Pasadena and Downtown Los Angeles.
Get ready to hear from the Southeast’s most influential multifamily leaders on December 4th at Connect Southeast Multifamily. Join us to hear from and connect with the power players shaping the region’s growth — from top developers and investors to the most prominent lenders, owners, and advisors who are defining the next wave of opportunities. www.ConnectSEMF2025.com
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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
Lenders
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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