CBRE and Carolwood Estates have successfully facilitated the sale of Utama Royale, a prestigious multifamily building located at 10351 Wilshire Blvd. in Los Angeles. The property was acquired by Cathedral JD, LLC, Brea JD, LLC and TOMO JD, LLC for $28 million (equivalent to over $1.5 million per unit). Led by EVP Laurie Lustig-Bower and first VP Kamran Paydar from CBRE along with Barbara Duskin from Carolwood Estates as estates director representing the seller Devonshire Delaware Inc.
Utama Royale is an exquisite residential building situated between Beverly Hills and Westwood that presents an exceptional investment opportunity with great potential for growth. According to Ms.Lustig-Bower “This truly remarkable asset is distinguished by its elegant design and prime location making it one of Southern California’s most coveted residences.” Additionally Mr.Paydar stated that CBRE’s strategic marketing approach resulted in a high level of interest among investors which led to nearly 20 offers being made on this property.
The successful marketing campaign was carried out through ApartmentBuildings.com – Connect CRE’s sister site – offering access to various investment opportunities across the United States & Canada including market-rate multifamily properties , affordable housing options , single-family rentals , senior housing facilities & student housing accommodations . For more details on these lucrative prospects please visit our website now!
