Matthews™ Announces Eight-Property Portfolio Sale in Southern California for $14.04M

Los Angeles Multifamily Portfolio

 

LOS ANGELES — Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, announced the successful closing of the Amethyst Street Portfolio in Redondo Beach, CA. Matthews™ Associate Vice President & Associate Director Nabil Awada represented the buyer in the $14.04 million transaction.

 

The multifamily portfolio comprises 32 units across eight assets. Each asset is a low-rise, garden-style fourplex, boasting a large three-bed or four-bed owner’s unit in the front and three units in the rear made up of one-bed and two-bed units.

 

“This is a unique sale with eight total properties located on the same block in South Redondo Beach,” Awada said. “Given that financing this acquisition opportunity was going to be extremely difficult in today’s capital markets environment, we found a group that was able to execute an all-cash closing with no financing contingencies and understood the level of work required to upgrade these properties.”

 

The buyer in this transaction specializes in acquiring Southern California value-add multifamily properties. The buyer’s plan is to utilize their knowledge of the South Bay market to leverage their vertically integrated operating platform to execute their business plan.

 

The sellers are private individuals who have owned the assets for over 40+ years and have been long-term owners of investment real estate throughout Southern California. Their motivation was to unwind their LA multifamily portfolio and exchange into more passive real estate investments outside of California.

 

The sale includes 1301, 1303, 1305, 1307, 1312, 1315, 1319, and 1321 Amethyst Street, Redondo Beach, CA.

 

For more information regarding the sale or additional opportunities, please reach out to Nabil Awada. To view our current listings, please visit www.matthews.com.

 

About Matthews™

Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Matthews™ is strategically positioned with over 1,000 agents and employees in 25+ offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.