Los Angeles, CA – Matthews Real Estate Investment Services™, the nation’s fastest-growing commercial real estate firm, recently brokered the sale of a valuable apartment building, located at 515 South Saint Andrews Place, Los Angeles, CA. The transaction was brokered by Matthews™ Vice President Charles Wright and Associate Taylor Avakian.
The seller, a Matthews™ private client, was looking to execute a 1031 Exchange into a passive investment for improved cash flow. Matthews™ agents successfully sourced a buyer through their extensive network. The buyer was interested in the property due to the value-add opportunity and to expand their already extensive Los Angeles portfolio.
“We were able to successfully source a buyer through the Matthews™ shared comprehensive database and negotiate terms that are key to the exchange program’s success,” said Avakian. “Our collaborative approach also allowed us to connect the client with an expert in single tenant net lease investments, eliminating management responsibilities for the client and improving their cash flow.”
The two-story multifamily property includes 40 units and is in the Koreatown neighborhood, making it a well-known asset. Matthews™ agents were able to utilize their expertise and knowledge of market rents and comparable sales to pursue and close this sale.
“This property is one of the larger apartment buildings in the local market, so we had a lot of brokers pursuing this opportunity,” said Wright. “The buyer received other offers from competitors, but we were able to connect with the seller and secure a buyer for the sale.”
Matthews Real Estate Investments Services™, the nation’s fastest-growing commercial real estate brokerage firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Founded in El Segundo, CA, and strategically positioned with over 300 agents and support staff in over 10 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.
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