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.

***

What’s your opinion? Send your Letter to the Editor to newsroom@inman.com.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
We're here to help. Free 90-day trial for new subscribers.Click Here×