Kidder Mathews arranged the $7.6-million sale of The Carlton Apartments, a 36-unit property located at 5535 Carlton Way in Hollywood. EVP Darin Beebower and associate Dakoda Iversen represented Los Angeles-based James Investment Partners in the sale to a local real estate investor.
The property generated more than 25 offers from prospective buyers despite softening rental trends in parts of the Hollywood market, which have led many investors to more closely scrutinize underwriting assumptions and future rent growth projections.
“This transaction is a good example of the importance of persistence,” said Beebower. “We remained committed to the process, stayed engaged with the market and were ultimately able to identify the right buyer to help our client achieve a successful sale.”
