Northmarq brokers $14.8M sale of three-property portfolio in Koreatown
Koreatown Portfolio
LOS ANGELES — Northmarq’s Investment Sales team of Brent Sprenkle, Alex Peterson, Parker Boehle, Mike Hanassab and Elliot Hassan brokered the $14.8 million sale of a three-property multifamily portfolio totaling 83 units located in Los Angeles.
The portfolio includes:
- 409 S. Manhattan Place | 29 units | built in 1957.
- 411 & 425 S. Alexandria Avenue | 54 units | built in 1955.
Northmarq represented the seller, David Greenhut, and the buyer, a locally based private investor.
"After over twenty years of ownership, the seller was looking to divest and exchange out of state,” said Peterson. “These properties were marketed separately and generated significant interest. Ultimately, we sourced a local buyer who was willing to close these properties simultaneously and delivered a great outcome for both parties.”
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Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
