Valley Watch: Lion Real Estate Group pays $42M for three-property apartment portfolio

Total units amount to 207

Los Angeles /
Oct.October 25, 2017 11:00 AM

In our new Valley Watch series, we keep track of activity in the San Fernando Valley.

Lion Real Estate purchased a three-property apartment building portfolio from a private investor in an off-market transaction worth $41.6 million, The Real Deal has learned. The investor developed the San Fernando Valley properties over 40 years ago.

The properties are: the 105-unit building 4355 Sepulveda Boulevard in Sherman Oaks, 48-unit 7317 Haskell Avenue and 54-unit 6535 Haskell Avenue in Van Nuys.

Lion plans to renovate the exterior of the properties, as well as units, and improve the common area amenities, according to a company statement.

Michael Koshet of LA Commercial Agency represented the buyer and the seller in the transaction.

Lion Real Estate Group, led by Jeff Weller and Mory Barak, focuses on value add acquisitions including opportunistic multifamily and creative offices properties in Southern California and Nashville. The company sold two warehouses in the Arts District to Tishman Speyer last year, just a short while after it acquired a 112-unit complex in Tarzana for $19 million.

The San Fernando Valley has been making headlines recently. Facebook leased an 80,000 square foot lease in a Northridge creative office complex, The Real Deal reported earlier this month. The residential side is keeping up, too. Just down the street, developer Art Simonian is planning 364 new apartments. More commercial brokerages are getting into the area, once seen as a Class B market, as TRD explored in its October print issue.


Related Articles

arrow_forward_ios
Plans of the project as submitted to the City of Los Angeles and Eddie Lorin of Alliant Strategic (AC Martin / City of Los Angeles, Alliant)
Alliant Strategic plans 332-unit project in Van Nuys
Alliant Strategic plans 332-unit project in Van Nuys
Aerial Shot of a Suburban Street in San Fernando Valley (Getty)
San Fernando Valley home prices top another record in May
San Fernando Valley home prices top another record in May
A rendering of the project and an aerial view of the development site (WPH Holdings, Google Maps)
WPH Holdings plans another affordable complex in Sun Valley
WPH Holdings plans another affordable complex in Sun Valley
Clarion Partners CEO David Gilbert and Trammell Crow CEO Mike Lafitte. (The Center at Needham Ranch, Clarion Partners, Trammel Crow)
DrinkPAK gulps down 400K sf at Needham Ranch complex
DrinkPAK gulps down 400K sf at Needham Ranch complex
Rexford Co-CEOs Howard Schwimmer and Michael S. Frankel and Quixote CEO Mikel Elliott. (Google Maps, Rexford, Quixote)
Rexford Industrial inks studio and equipment firm to big lease
Rexford Industrial inks studio and equipment firm to big lease
Intercontinental’s Jessica Levin and PGIM’s David Hunt with 20730 Prairie Street (Google Maps, iStock)
Amazon-leased warehouse sells for $74M
Amazon-leased warehouse sells for $74M
Jamie-Lynn Sigler and Cutter Dykstra with their Valley Village home (Getty, Compass)
“Sopranos” star Jamie-Lynn Sigler sells San Fernando Valley home
“Sopranos” star Jamie-Lynn Sigler sells San Fernando Valley home
Mike Feuer with 14697 Plummer Street in Panorama City and 13285 Corcoran Street in Pacoima (Getty, Google Maps, iStock)
LA City Attorney sues homeowners over alleged gang activity at properties
LA City Attorney sues homeowners over alleged gang activity at properties
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...