Matthews™ Arranges the Sale of Value-Add Multifamily Property in Glendale, CA

19 Feb 2018

Los Angeles, CAMatthews Real Estate Investment Services™, the nation’s fastest growing commercial real estate firm, recently completed the $2 million sale of a 7-unit apartment building located in the city of Glendale, CA.

Daniel Withers, Senior Vice President of Multifamily at Matthews™, represented the seller in the transaction who was looking to sell the property after a dissolution of a partnership. The property has a significant amount of deferred maintenance and the sale released the seller from having to add capital to the property.

Through Matthews’™ marketing platform, Withers’s generated over 40+ interested buyers, allowing the seller to negotiate the best price possible for the property. Matthews™ closed the property with an all cash offer in under 30 days. The buyer, who was represented by an outside broker, plans to reposition the entire asset to receive market rents.

For more information regarding the sale of 1905 Vassar Ave or if you have any questions relating to your multifamily investment(s), please do not hesitate to reach out to Daniel Withers for more information. So far in 2018, Withers’ has closed four escrows totaling over $15 million and has additional properties in escrow.

 

About Matthews Real Estate Investment Services™:

MATTHEWS REAL ESTATE INVESTMENT SERVICES™ is recognized as an industry leader in multifamily, shopping center, STNL, management, leasing, portfolio disposition and 1031 exchange programs. The firm is headquartered in El Segundo, CA and serves clients throughout the United States and Canada. For more information, please visit www.matthews.com

PRESS CONTACTS

Leanne Jenkins

(310) 955- 1784

Leanne.Jenkins@Matthews.com