Nuveen has offloaded a five-building apartment complex in Van Nuys to a locally based real estate firm.
Beverly Hills-based Post Investment Group purchased the 390-unit San Regis apartments at 15454 Sherman Way in Van Nuys for roughly $69 million, or $176,923 per unit, Hoodline reported. The property sale ranks among the priciest multifamily transactions in the San Fernando Valley so far this year and the largest by unit count in Van Nuys since 2015, according to Connect CRE.
Under Nuveen’s ownership, the company invested nearly $17 million in upgrades to individual units and common areas at the gated community in recent years. Amenities on site include a junior-Olympic pool, three pickleball courts and a modernized fitness center.
Post Investment Group has made multifamily acquisitions in northern Los Angeles County before. In the San Fernando Valley, Post Investment Group and Walker & Dunlop Investment Partners teamed up in late 2024 to buy the Marquee Apartments, a 236-unit garden-style apartment complex at 12300 Sherman Way in North Hollywood, for $44 million. Last spring, Post purchased the Chaparral Apartments in Palmdale for $71 million, The Real Deal reported at the time. That 296-unit complex at 38441 Fifth Street West traded for just under $240,000 per unit and ended up being the largest multifamily deal in Palmdale last year, per TRD Data.
Post Investment Group’s website notes its efforts in multifamily repositioning and workforce and affordable housing, suggesting it will likely operate and maintain the property rather than pursue redevelopment, according to Hoodline.
Nuveen’s disposition marks the latest multifamily sale in the Los Angeles area. Last fall, Nuveen sold the 244-unit Stella apartment property at 13488 Maxella Avenue in Marina del Rey to Carmel Partners for $141 million. That marked the priciest multifamily sale in the seaside enclave in more than a decade, though it was still 15 percent lower than the $167.3 million that Nuveen paid for Stella in 2013.
— Chris Malone Méndez
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