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10/02/14
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Raintree Partners spent $9.5 mil on a 39-unit ($243.6k/unit) apartment property in Studio City. It was fully occupied at the time of sale.
The property is located at 4250 Coldwater Canyon Ave, just north of Ventura Blvd. It is located next door to Sportsmen’s Lodge, which is expected to undergo a major renovation and redevelopment to include a 57k sf commercial center anchored by Equinox fitness club with restaurants and retail shops.
Jim Fisher and Mike Smith, principals of Lee & Associates-LA North/Ventura, represented both the buyer and seller in the deal. Since 2011, Laguna Niguel-based Raintree has acquired five multifamily properties in the San Fernando Valley.
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