Praedium, Coastline Capital sell multifamily complex

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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