Berkadia closed the sale and financing of The Marquee Apartments, a 236-unit, garden-style multifamily property in North Hollywood.
Senior managing director Tim Leonhard and associate director Jeremy Kanter of Berkadia Dallas and New York, respectively, secured $32.9 million in acquisition financing on behalf of the buyer, Los Angeles-based Post Investment Group and Walker & Dunlop Investment Partners.
“The Marquee sale represents the only 120-plus-unit, rent-controlled apartment sale in the entire city of Los Angeles in the past year,” said Barr. “Working together with our mortgage banking partners, we were able to achieve something that no other broker has done in a tough market.”
Located at 12300 Sherman Way, Marquee Apartments presented the rare opportunity to purchase 236 apartment units on more than 4.5 acres of land. Built in 1965, Marquee is just north of the NoHo Arts District.
The Marquee Apartments provides residents a wide selection of unique studio, 1 and 2 bedroom apartment homes. Exclusive community and household amenities include a pool and spa, secured access, and a 24-hour fitness center with cardiovascular and strength training equipment.
Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets.
