Berkadia closed the sale and financing of Marquee, a 236-unit, garden-style multifamily property in North Hollywood. Senior managing director Adrienne Barr and director of transaction services Nancy Badzey of Berkadia Los Angeles led the off-market transaction.
Senior managing director Tim Leonhard and associate director Jeremy Kanter of Berkadia Dallas and New York, respectively, secured $32.9 million in acquisition financing on behalf of the buyer, Los Angeles-based Post Investment Group and Walker & Dunlop Investment Partners.
“The Marquee sale represents the only 120-plus-unit, rent-controlled apartment sale in the entire city of Los Angeles in the past year,” said Barr. “Working together with our mortgage banking partners, we were able to achieve something that no other broker has done in a tough market.”
Located at 12300 Sherman Way, the property presented the rare opportunity to purchase 236 apartment units on more than 4.5 acres of land. Built in 1965, Marquee is just north of the NoHo Arts District.
