Transwestern Real Estate Services (TRS) announces its Los Angeles Multifamily Investment Services Group has brokered the sales of 14654 Gault St., a luxury fourplex in Van Nuys, and 5631 Whitnall Highway, a newly built luxury fourplex in North Hollywood, in a 1031 exchange transaction. Transwestern Managing Directors John Swartz and Josh Kaplan and Senior Associate Troy Lucero represented the buyer and seller of 14654 Gault St. and the buyer in the sale of 5631 Whitnall Highway for a combined transaction value of $4.35 million.
“Despite lingering concerns about the strength of the economy and the investment market, we were able to generate multiple offers and open escrow for 14654 Gault St. in just five days,” said Swartz. “Closing both sales in the San Fernando Valley submarket shows that multifamily investors remain confident in keeping their investment dollars in Los Angeles.”
Swartz, Kaplan and Lucero recently represented the seller and buyer of 8234-8236 Blackburn Ave. in the Beverly Grove neighborhood of Los Angeles, a single-lot development site totaling 6,250 square feet, for a transaction value of $2.15 million.
“Our recent sales transactions underscore investors’ strong appetite for core, value-add and development opportunities across the Greater Los Angeles market as the economy continues to improve,” said Kaplan.