In one of Southern California’s largest deals of the year, Greystar Real Estate Partners LLC acquired four multifamily buildings from BlackRock, Inc. for $169 million.
The deal includes 5880 Lochmoor Drive, a 158-unit apartment in Riverside, CA; 11201 Otsego Street, a 100-unit complex in North Hollywood; 7039 Charmant Drive, a 312-unit multifamily in San Diego; and 1100 Calle Del Cerro, a 250-unit complex in San Clemente, CA.
Collectively, the investment portfolio sold with a capitalization rate of 4.8%.
J. Kevin Mulhern and Tyler Anderson of CBRE represented the seller, BlackRock, Inc. The buyers handled the transaction in-house.
Please refer to CoStar COMP # 2248044 for further details.