Sales Deals of the Week: Multifamily Sales in California Drive Market
The top five sales across the country from Feb. 26 to March 1.
By The Editors March 1, 2024 10:00 am
reprints
This week in sales, Barings made the biggest splash by going into contract to acquire 1370 Avenue of the Americas from Principal Real Estate Investors for about $160 million. San Francisco-based FPA Multifamily wasn’t far behind in Ventura County, Calif., closing on a $153 million acquisition 409-unit multifamily portfolio. In Anaheim, Chateau de Ville at 2020 West Alameda Avenue was purchased by Palos Verdes Investments for $79 million.
| Amount | Address | Buyer | Seller | Brokers | Asset |
|---|---|---|---|---|---|
| $197 million | Four-building portfolio in Southern California | CenterPoint Properties | JPMorgan Asset Management | CBRE’s Darla Longo, Michael Longo, Joe Cesta, Eric Cox and Barbara Perrier | Industrial |
| $150 to $160 million | 1370 Avenue of the Americas; Manhattan | Barings | Principal Real Estate Investors | Newmark’s Adam Spies, Doug Harmon, Josh King, Adam Doneger and Marcella Fasulo | Office |
| $153 million | 645 Hampshire Road and 555 Laurie Lane; California | FPA Multifamily | Avi Peretz | Institutional Property Advisors | Residential |
| $79 million | 2020 West Alameda Avenue; Anaheim, Calif. | Palos Verdes Investments | Walters Management | Marcus & Millichap | Residential |
| $50.5 million | 3225 Meridian Parkway; Weston, Fla. | Chick-fil-A | Cabot Properties | N/A | Industrial |
Sales Deals of the Week reflect deals closed or announced from Feb. 26 to March 1. Information on sales can be sent to editorial@commercialobserver.com.
1370 avenue of the americas, 2020 West Alameda Avenue, Barings, Chateau de Ville, Great Gulf, Multifamily, Palos Verdes Investments, Barings, Chick-fil-A, Great Gulf, Palos Verdes Investments, Principal Real Estate Investors
