Matthews™ is proud to announce that the sale of Newcastle Towers has been recognized as the “Best Multifamily Deal” by the Los Angeles Business Journal at the prestigious Valley CRE Awards. The award-winning transaction involved the $14.75 million sale of a 71,765-square-foot apartment community located at 5415 Newcastle Avenue in Encino, California. The transaction was led by Senior Vice President Daniel Withers of Matthews™, who represented the seller, a local investor seeking to streamline their portfolio holdings.

 

The deal drew significant market attention due to both the scale of the transaction and the challenges surrounding the multifamily investment landscape at the time. Amid tightening market conditions and ongoing difficulties securing property insurance due to the Southern California wildfires in Altadena and Pacific Palisades, the Matthews™ team implemented a proactive and strategic marketing campaign that generated substantial buyer interest. Through extensive outreach, numerous property tours, and a competitive bidding environment, the team secured multiple offers and ultimately identified a private local investor whose terms aligned closely with the seller’s goals and timeline.

 

According to CoStar, the Newcastle Towers transaction represented the largest multifamily sale by price in the San Fernando Valley in 2025. The recognition by the Los Angeles Business Journal highlights not only the scale of the transaction, but also the creativity, persistence, and market expertise required to successfully close a landmark multifamily deal in a highly competitive and evolving market environment.