Image Caption: Santal Thousand Oaks Apartments
Newmark has announced the successful sale of Santal Thousand Oaks, a 142-unit mid-rise multifamily property located in Thousand Oaks, California. The sale marks a historic milestone as the first unleveraged institutional purchase ever recorded in Ventura County.
The seller, The Latigo Group, was advised in the transaction by a Newmark team led by Vice Chairman Jonathan Merhaut, Executive Vice Chairmen Geoff Boler and Joseph Smolen, Senior Managing Director Eugene Chong, and Director Blake Matsuda. The buyer was an account managed by global investment firm BlackRock.
Santal Apartments, located at 299 Thousand Oaks Boulevard, was completed in 2023 and is known for achieving the highest multifamily rental rates in Ventura County. According to Newmark, it stands as the only multifamily asset delivered in Thousand Oaks in the past 15 years.
“Santal represents a transformative multifamily transaction for Ventura County and Thousand Oaks,” said Jonathan Merhaut. “This sale marks the first deployment of unleveraged pension fund capital into a multifamily asset in Ventura County. We are thrilled to have facilitated this landmark sale on behalf of The Latigo Group to an account managed by BlackRock.”
This transaction underscores the increasing appeal of Ventura County’s multifamily market to institutional capital and highlights the region’s growing prominence within Southern California’s broader real estate landscape.
