The two properties, built in the 1950’s, are situated in the most sought after location in San Fernando Valley. Located adjacent to the 101 Freeway and Ventura Blvd, the assets offer the tenants access to entertainment, shopping and dining in the immediate area. The seller, a family trust, was looking to reposition their equity into an asset that required little to no management responsibilities.
The property’s coveted location allowed Matthews™ to position the deal as a prime asset and marketed the deal as a value-add opportunity. Through the utilization of Matthews™ extensive database, the team identified a buyer whose goals closely aligned with the seller’s.
The buyer was hunting for a value-add opportunity with plans to reposition. Matthews™ successfully negotiated a deal that relieved the seller of all management responsibilities and increased their overall cash flow, by exchanging into several triple net properties throughout the United States. Ultimately, the client was able to free themselves from day-to-day management responsibilities, which apartments require.
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