Kidder Closes Hollywood Multifamily Sale Despite Softening Rental Trends
Kidder Mathews arranged the $7.6-million sale of The Carlton Apartments, a 36-unit property located at 5535 Carlton Way in Hollywood. EVP Darin Beebower and associate Dakoda Iversen represented Los Angeles-based James Investment Partners in the sale to a local real estate investor.
The property generated more than 25 offers from prospective buyers despite softening rental trends in parts of the Hollywood market, which have led many investors to more closely scrutinize underwriting assumptions and future rent growth projections.
“This transaction is a good example of the importance of persistence,” said Beebower. “We remained committed to the process, stayed engaged with the market and were ultimately able to identify the right buyer to help our client achieve a successful sale.”
Other News
Developer Duo Pursuing $600M Dallas Hotel, Residential Project
Developers Jonas Woods and 3-O Real Estate Partners have proposed a $600 million, two-tower project called Ivy Park and The English on a 2.2-acre parcel near McKinney and Webb Avenues along the Katy Trail. The Dallas Morning News reports the project could have both a 30-story hotel and residential tower and a 20-story residential tower...
Learn more
Transwestern, Newquest Advancing Kyle Mixed-Use Project
Transwestern and NewQuest are advancing an approximately 101-acre mixed-use development in Kyle, Texas, that will bring together retail, hotel and multifamily uses. The duo has formed a joint venture and commenced construction on the retail portion of the development, Kyle Park, marking the next phase of the broader project. Retail will serve as the central aspect...
Learn more
Leon Multifamily Building 343-Unit N. Phoenix Venture
Leon Multifamily started construction on Soltra Ironwood, a 343-unit luxury multifamily community in North Phoenix, Arizona. The nearby Taiwan Semiconductor Manufacturing Corporation has committed to a total of $265 billion in Arizona investment across up to 10 fabrication facilities, two advanced packaging plants, and a research and development center — a build-out expected to support...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout