Praedium, Coastline Capital sell multifamily complex
L.A. property includes swimming pools, fitness center
By Inman News, Wednesday, July 14, 2004.Inman News®
A joint venture between The Praedium Group and Coastline Capital Partners sold the 170-unit Summer View Apartments in Sherman Oaks, Calif.
The value of the transaction was $20.3 million.
Built in 1964, the three-story multifamily property is located at 15353 Weddington St. Amenities include a fitness center, clubhouse, tennis and basketball courts, two swimming pools, a sauna and BBQ area.
A joint venture between a local real estate investor and an institution purchased the property.
At the time of sale the property was 95 percent occupied.
John Walsh of Marcus & Millichap represented the sellers in this transaction.
New York-based The Praedium Group LLC and Hermosa Beach, Calif.-based Coastline Capital Partners LLC are both real estate investment companies.
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