CBRE has successfully completed the purchase of five multifamily properties in Torrance and Long Beach on behalf of an exchange buyer. These transactions fulfilled the buyer’s 1031 exchange requirement after selling a 3.82-acre property in Torrance.
EVP Dan Blackwell and senior associate Trey Mitchell from CBRE Multifamily SoCal Team represented the San Diego-based exchange buyer, utilizing their expertise to identify both on- and off-market opportunities that aligned with the investor’s criteria. According to Blackwell, this exclusive relationship allowed them to meet both short-term and long-term investment objectives.
The five multifamily properties were sourced from various private sellers in Southern California, including addresses at 1751 Cabrillo Ave., Torrance; 927 Daisy Ave., Long Beach (pictured);908 Roswell Ave., Long Beach;1512 E. Florida St., Long Beach;and477 E.South St.,LongBeach.Mostofthepropertieshavepotentialforupgrades,suchasrenovatingunitsandincreasingrentsoraddinganaccessorydwellingunit.This successful acquisition showcases CBRE’s ability to deliver exceptional results for clients seeking high-quality investments in Southern California.
