Newmark Closes Sale of “Westside Trio” Multifamily Portfolio

Barchart · 09/27 18:08

Newmark closed the $16.15-million sale of a multifamily portfolio, known as Westside Trio. Located in highly sought-after neighborhoods of West Los Angeles, the portfolio sold for a blended price per unit of $425,000 and blended price per foot of $573. The offering includes properties at 1823 N. Fuller Ave. in Los Angeles, 8730-8736 Holloway Drive in West Hollywood and 1335-1351 Manhattan Beach Blvd. in Manhattan Beach. 

Managing Director Anthony Muhlstein, Senior Managing Director Chris Benton, Co-Head of US Capital Markets Kevin Shannon, Vice Chairman Ken White and Senior Financial Analyst Gabe Munson represented the seller, Chishima Real Estate. The buyer was SLH Investments.   

“Shifting local policies are creating attractive acquisition opportunities in key areas of Los Angeles,” said Muhlstein “Securing three prime assets in West Hollywood, the Hollywood Hills and Manhattan Beach is a rare opportunity in a highly competitive market.”  

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