REBusinessOnline

Raintree Partners Acquires Five Multifamily Properties in Southern California for $142M

Canyon-Drive-Manor-Apts-Los-Angeles-CA

Located at 1738 N. Canyon Drive in Hollywood, Calif., Canyon Drive Manor Apartments features 137 units.

ORANGE COUNTY, CALIF. — Orange County-based Raintree Partners has purchased a portfolio of five multifamily communities in Southern California from a private seller for $142 million. Totaling 551 units, the properties are located in four submarkets: Glendale, Hollywood and Canoga Park in Los Angeles County, and Camarillo in Ventura County.

Raintree plans to implement a value-add renovation plan across the four Los Angeles County properties, which will include intensive upgrades to exteriors, amenity areas and unit interiors. Additionally, the firm plans to complete a light refresh at the Camarillo asset.

The portfolio includes:

  • Mountain View Apartments, a 106-unit community at 659 Las Posas Road in Camarillo
  • Imperial Manor Remmet & Strathern Apartments, a 64-unit property located at 8101-811 Remmet Ave. and 21601-21609 Strathern St. in Canoga Park
  • Perigee Apartments, a 200-unit asset located at 21041 Parthenia St. in Canoga Park
  • Imperial Crest Apartments, a 44-unit complex at 1120-1124 Thompson Ave. in Glendale
  • Canyon Drive Manor Apartments, a 137-unit community located at 1738 N. Canyon Drive in Hollywood

Dean Zander, Stewart Weston and John Montakab of CBRE represented the seller in the deal. Greg Reed and Kristen Croxton of Capital One arranged financing, which Fannie Mae provided.

Content Partners
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Walker & Dunlop

Webinars on Demand


Conferences


Subscribe to the newsletter

Read the Digital Editions

Texas Affordable Housing Business

Southeast Affordable Housing Business

Heartland Recent Issue

Northeast Recent Issue

Southeast Recent Issue

Texas Recent Issue

Western Recent Issue

Shopping Center Business

California Centers

Ancillary Retail

Student Housing Business

Seniors Housing Business

Featured Properties  

2021 Finance Insight Video Interviews