Encino-Country-Club-Apts-Encino-CA

CBRE Negotiates $10M Sale of Encino Country Club Apartments in California

by Amy Works

ENCINO, CALIF. — CBRE has negotiated the $10 million sale of Encino Country Club Apartments, a 43-unit multifamily property located at 17000 Burbank Blvd. in Encino. Built in 1966, the three-story, 37,000-square-foot property features 36 one-bedroom units and seven two-bedroom units. Priscilla Nee and Dan Blackwell of CBRE represented the undisclosed seller and the buyer, a private investor that plans to implement a value-add program, in the deal. Gianna Novo, also with CBRE, arranged an acquisition loan for the buyer that covered 83 percent of the cost.

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