The Berzack Group Transacts Multifamily Land and Property Sales Totaling 50 Apartment Units
SHERMAN OAKS, CA – May 15, 2012 – (RealEstateRama) — May 14, 2012- The Berzack Group of Lee & Associates-LA North/Ventura has transacted the sale of two multifamily properties and a land parcel for multifamily development in the San Fernando Valley region of Los Angeles. The three transactions represent 50 apartment units totaling just under $4.6 million.
“With current interest rates so low and the projections for rental growth so strong, we are seeing no letup in demand for multifamily acquisitions in the Greater San Fernando Valley and throughout Southern California,” said Warren Berzack, Founder and President of The Berzack Group and a Principal of Lee.
Berzack, along with Berzack Group Partner Stephen Geiger and Associate George Yessaie, represented the buyer, Montrose Apartments LLC, in the acquisition of 4133 La Crescenta Ave. in La Crescenta, CA, a 14-unit apartment property that sold for $2,275,000.00.
Berzack also represented the buyer, a private investor, in the sale of a 12-unit multifamily asset at 7355 and 7359 Vineland Ave. in Sun Valley, for $1,510,000.00.
Berzack and Geiger represented the buyer and seller in the sale of 26,000 square feet of land entitled for 24 multifamily units at 7014 and 7018 Woodman Ave. in Van Nuys.
About Lee & Associates® – LA North/Ventura, Inc.
Celebrating more than 30 years of leadership in the commercial real estate industry, Lee & Associates®, is the largest broker-owned commercial real estate provider in the nation with 46 offices in California, Arizona, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Michigan, Missouri, Nevada, New Jersey, South Carolina, Texas and Wisconsin. Lee & Associates-LA North/Ventura, Inc., a member of the Lee & Associates group of companies, provides industrial, office, retail and multifamily/investment brokerage services across the San Fernando Valley, Conejo Valley, Antelope Valley and throughout Ventura County. Founded in Sherman Oaks, CA in 1994, Lee & Associates-LA North/Ventura now operates four California offices including Calabasas, Ventura County and Antelope Valley. For more information, contact us in the San Fernando Valley at 818.986.9800; in Ventura County at 805.626.1200; or in Antelope Valley at 661.341.3300. Or visit us online at www.lee-associates.com
