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2/09/18
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Cielo Apartments, a 119-unit multifamily property in the western San Fernando Valley community of Chatsworth, traded hands for $45 mil, or around $378k/unit.
The property is located at 9733 Topanga Canyon Blvd, within five miles of the growing urban neighborhood of Warner Center and the recently revitalized Westfield Topanga, Westfield Promenade, and Village at Westfield regional lifestyle shopping centers. Cielo is situated close to the 118, 101, 405 and 210 freeways and is less than one mile from the Los Angeles Metro’s Chatsworth station.
Greg Harris, Kevin Green and Joseph Grabiec with Institutional Property Advisors represented the seller, JB Matteson Inc. They team also procured the buyer, a private multifamily investment firm.
“Lack of new supply in Chatsworth/Canoga Park and Winnetka supports continued demand and revenue growth for Cielo Apartments,” noted Green.
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