LOS ANGELES — Berkadia has arranged the sale of Marquee, a garden-style multifamily community in the North Hollywood neighborhood of Los Angeles. Post Investment Group and Walker & Dunlop Investment Partners acquired the asset for $44 million in an off-market transaction from an undisclosed seller.
Located at 12300 Sherman Way, Marquee offers 236 apartments, a swimming pool with sundeck, large on-site leasing center with leasing offices, a 24-hour fitness center and landscaped fountains and walkways. Built in 1965 and subject to Los Angeles City Rent Control, the community offers 194 studios, 36 one-bedroom units and six two-bedroom units.
Adrienne Barr and Nancy Badzey of Berkadia Los Angeles led the transaction. Tim Leonhard and Jeremy Kanter of Berkadia secured $32.9 million in acquisition financing on behalf of the buyer.