Business & Tech
Warner Center Apartments Sell for $88 Million
The transaction is the largest multifamily sale in the San Fernando Valley this year, as well the largest commercial property.
An enormous 477-unit apartment building in Warner Center has sold for $88 million, according to the San Fernando Valley Business Journal.
The sale of The Mercer at 22100 Erwin St. is largest multifamily sale in the San Fernando Valley this year, as well the largest commercial property, according to the paper.
“We had more than 30 tours of the property and received more than a dozen offers,” said Greg Harris of Marcus & Millichap, who represented both the buyer and the seller. “The investor interest was very aggressive.”
The complex has one-, two- and three-bedroom units, four outdoor barbecue areas, two pools, a fitness center and tennis courts.
“Warner Center is one of the most high-demand locations in Los Angeles for luxury housing,” Harris said.
See the entire story here.
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