Charles Dunn Company Closes $1.9 Million Multifamily Deal in Los Angeles

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By The Hoyt Organization -

Torrance, CA – December 9, 2010 – (RealEstateRama) — Michel Hibbert of Charles Dunn Company has negotiated a $1.9 million sale of a 19-unit apartment complex located at 943 Elden Ave. in Los Angeles.

Leman Management Group LLC purchased the 14,712-square-foot property from Citibank in an REO sale. The sale closed in 30 days under a non-contingent contract.

Leman Management Group, which owns and operates properties, took advantage of the property’s discounted cost and plans to upgrade the complex and keep as a long term investment. The apartments, built in 1986, are 90 percent occupied.

Hibbert represented the buyer, Leman Management Group, LLC, and Grubb & Ellis represented the seller, Citibank.

About Charles Dunn Company
Charles Dunn Company is one of the largest full-service brokerage firms on the West Coast. Established in 1921, the Los Angeles-based company provides a full complement of real estate services. For more information and office locations, please visit www.charlesdunn.com.

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Ranked as one of the top 25 public relations firms in Los Angeles by the Los Angeles Business Journal, The Hoyt Organization is a full-service, strategic communications firm that provides complete public relations counseling and crisis communication services. With more than two decades of experience, the firm specializes in developing public relations, social media and digital marketing programs for business-to-business, real estate, professional service firms, financial entities, healthcare organizations, as well as retail, legal, technology and business-to-consumer-based companies.

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