Berkadia recently completed the sale and financing of Marquee, a garden-style multifamily property in North Hollywood consisting of 236 units. The off-market transaction was led by senior managing director Adrienne Barr and director of transaction services Nancy Badzey from Berkadia’s Los Angeles office.
The buyer, Los Angeles-based Post Investment Group and Walker & Dunlop Investment Partners, secured $32.9 million in acquisition financing with the help of senior managing director Tim Leonhard from Berkadia’s Dallas office and associate director Jeremy Kanter from their New York office.
According to Barr, this sale is significant as it marks the only rent-controlled apartment sale for properties with over 120 units in all of Los Angeles within the past year. She also credits their successful collaboration with mortgage banking partners for achieving this feat despite a challenging market.
Marquee is located at 12300 Sherman Way on over 4.5 acres of land near NoHo Arts District. Built in 1965, it presents a unique opportunity to acquire such a large number of apartment units within one property.
