LOS ANGELES, CA, Sept. 15, 2011. – Kitty Wallace (middle right photo), Executive Vice President of Colliers International, the second largest global real estate services organization, closed the sale of the Villas at Sherman Place (top left photo) located at 23130 Sherman Place in West Hills, California.
This 39-unit luxurious Tuscan styled property was recently completed in late 2010 and just sold for $12,800,000.
Wallace, based out of Colliers International’s West Los Angeles office, represented the Seller, Quality Properties Asset Management Company, an Illinois corporation. She also represented the Buyer, a publicly traded company based out of Los Angeles.
“The Villas at Sherman Place is one of the largest new townhome properties in West Hills” said Wallace.
“The asset was delivered completely vacant offering the new owner the flexibility to lease the townhomes as apartments or to sell them individually to end-users.
“The versatility of this deal coupled with its location and quality of construction caused quite a buzz amongst our investors” notes Wallace.
“We received 16 highly qualified offers after just one month of marketing and the Buyer won the deal after an aggressive bidding war. They purchased it for $328,200 per unit with a $1 million released deposit and a quick 25 day close.”
Wallace believes the new owner plans to sell the townhomes as condominiums.
Contact:
Angela S. Hwang
Regional Marketing Coordinator | Greater Los Angeles
Dir +1 213 532 3258 | Mob +1 310 867 4105
Main +1 213 627 1214 | Fax +1 213 327 3258
Colliers International
865 S Figueroa St., Suite 3500 | Los Angeles, CA 90017 | USA
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