Post Investment Group and Walker & Dunlop Investment Partners have acquired Marquee, a 236-unit, garden-style multifamily property in North Hollywood, Calif. Berkadia Los Angeles led the transaction. It was an off-market transaction. Berkadia’s teams in Dallas and New York City, respectively, secured $32.9 million in acquisition financing on behalf of the buyer. The deal closed on November 26.
Located at 12300 Sherman Way, the property presented the buyer with the rare opportunity to purchase 236 apartment units on more than 4.5 acres of land. Built in 1965 and subject to LA City Rent Control, the property features a swimming pool with sundeck, large on-site leasing center with spacious leasing offices, a 24-hour fitness center, and beautifully landscaped courtyards with tranquil fountains and walkways. The unit mix consisted of 194 studios (82 percent), 36 one-bedroom units (15 percent), and six two-bedroom units (3 percent).
The Marquee is just north of the NoH
