San Fernando Valley Apartment Complex Sells for $142M
L.A.’s Housing Authority paid about $423,582 per unit to acquire the Woodland Hills property
By Greg Cornfield January 6, 2025 5:20 pm
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Multifamily development firm Amcal Housing has let go of a 335-unit property in perhaps the largest commercial real estate deal in Los Angeles’ San Fernando Valley in 2024.
The Housing Authority of Los Angeles (HACLA) paid $141.9 million, or $423,582 per unit, for a five-story property built in 2020 in Woodland Hills. Records show the deal closed Dec. 26.
In May 2024, KKR provided $101 million in financing for the property, which spans 294,729 square feet at 22121 Clarendon Street, just off the Topanga Canyon Boulevard exit along Highway 101.
Sam Liberow of Marcus & Millichap brokered the deal. Neither Amcal nor KKR returned requests for comment.
Woodland Hills is the fastest-growing submarket in L.A.’s San Fernando Valley, with new multifamily and office investment in and around the master-planned Warner Center district as well as Stan Kroenke’s plan to build a large new headquarters for the L.A. Rams.
Meanwhile, 86-year-old HACLA is one of the nation’s largest public housing authorities with more than 83,000 affordable units.
Gregory Cornfield can be reached at gcornfield@commercialobserver.com.
