Los Angeles, CA, May 17, 2012. – Colliers International, the third largest global real estate services organization, has completed the $4,462,000 sale of a two-story, 40-unit apartment property located at 401-403 W. Glenoaks Blvd (top left photo). in Glendale, Calif.
Han Widjaja Chen (middle right photo) of Colliers International represented the buyer, Glendale-based Meridian-Kenwood, LLC.
Judy Stevens of Prudential California represented the seller, Arcadia-based 727 Del Coronado, LLC. The property was purchased at a 6.41 percent cap rate. The property was fully occupied at close of escrow.
“Colliers International was able to negotiate a favorable price for this multifamily property,” said Chen.
Chen added that the buyer plans to add value to the property by making capital improvements to the units and re-tenanting of the property.
Contact:
Darcie Giacchetto
Spaulding Thompson & Associates
949.278.6224
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