The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
May 21, 2019
 Search RENTV
   Go!
 Video Programs
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



HOME PAGE NEWS
Printer-friendly Version   Email an Associate
Long Beach Multifamily Value-Add Opportunity Goes for $72 Mil

2/26/19

Friendly Franchisees Corporation paid $72 mil for The Landing at Long Beach, a 206-unit ($350k/unit) property in Long Beach. The asset, located at 1613 Ximeno Ave, was sold by Western National Realty Fund II L.P., an investment fund managed by Western National Group.

The Landing at Long Beach is centrally located between the major employment hubs of Los Angeles and Orange County, with a combined total of over 5.5 million jobs. The property affords convenient access to California State University Long Beach and is situated within three miles of more than 3.5 msf of retail.

The acquisition is viewed as a value-add opportunity. The new owner plans on investing approximately $28k per unit for a complete major-renovation, bringing the property to best-in-class for its Long Beach submarket.

Joe Leon, Jim Fisher, Mike Smith, Kevin Larimer and Greg Gonzalez with Berkadia represented the seller in the transaction. The deal closed on January 31.





Return to the Archive page


 


 


 


 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2019 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media