Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale and acquisition financing of Luxe Villas, a 60-unit multifamily property in the Brentwood neighborhood of Los Angeles. The asset changed hands for $49,494,000, which equates to approximately $824,900 per apartment.
IPA describes Luxe Villas as one of the premier multifamily communities in Brentwood. According to IPA executive managing director Kevin Green, the deal represents a notably rare trade in the submarket. He noted that it is one of only three properties of 50 or more units built after 2000 to sell in Brentwood over the past 25 years, underscoring the limited transaction history for newer, larger-scale assets in this area.
Green, along with IPA colleagues Joseph Grabiec and Gregory Harris, represented the seller in the transaction and also procured the buyer. No additional details about the parties were disclosed. Their role covered both sides of the sale, highlighting IPA’s presence in the Los Angeles multifamily investment sales market.
Brentwood is characterized in the report as one of California’s most affluent multifamily submarkets. Grabiec cited average annual household incomes in excess of $213,000, a benchmark that supports the positioning of Luxe Villas within a high-income, supply-constrained residential enclave of Los Angeles.
On the capital markets side, IPA Capital Markets arranged the acquisition financing for the buyer. The financing team consisted of Brian Eisendrath, Cameron Chalfant and Jake Vitta. While specific loan terms and the lender were not disclosed, the advisors secured debt for the transaction in the current lending environment.
Vitta commented that the lending backdrop is being supported by a deep pool of capital and that agency lenders remain highly competitive. He noted that these agencies continue to provide aggressive credit terms and attractive spreads for quality multifamily assets such as Luxe Villas. This perspective points to ongoing appetite among agency lenders for well-located, institutional multifamily properties, even as transaction activity for comparable Brentwood assets remains limited.
The combination of a high per-unit price, affluent renter base and competitively sourced agency-backed financing positions Luxe Villas as a benchmark trade for newer vintage multifamily product in Brentwood. However, many of the financial specifics of the loan and the identities of the buyer, seller and lender were not disclosed in the information provided.
