Marcus & Millichap’s Institutional Property Advisors Brokers $95 Million Multifamily Sale in Greater Los Angeles
Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE:MMI), has brokered the sale of The Landing at Arroyo, a 212-unit multifamily property in Simi Valley, California, for $95 million. The sale price equates to $448,113 per unit. The property, built in 2022 on 10 acres, features modern amenities and is strategically located between major highways, providing access to employment centers in Warner Center, Thousand Oaks, and Camarillo.
IPA executives highlighted the property's potential for growth in an underserved market with new developments. Simi Valley's strong demographics, including an average annual household income of $139,000, coupled with high single-family home prices, make The Landing at Arroyo an attractive option for residents. The transaction showcases MMI's expertise in brokering significant multifamily deals in prime locations.
Institutional Property Advisors (IPA), una divisione di Marcus & Millichap (NYSE:MMI), ha intermediano la vendita di The Landing at Arroyo, una proprietà multifamiliare di 212 unità a Simi Valley, California, per 95 milioni di dollari. Il prezzo di vendita corrisponde a 448,113 dollari per unità. La proprietà, costruita nel 2022 su un terreno di 10 acri, offre moderni servizi e si trova strategicamente tra le principali autostrade, garantendo l'accesso ai centri di lavoro di Warner Center, Thousand Oaks e Camarillo.
I dirigenti di IPA hanno evidenziato il potenziale di crescita della proprietà in un mercato poco servito, con nuovi sviluppi. Le solide demografie di Simi Valley, che includono un reddito medio annuale delle famiglie di 139.000 dollari e prezzi elevati delle abitazioni unifamiliari, rendono The Landing at Arroyo un'opzione attraente per i residenti. La transazione dimostra l'esperienza di MMI nell'intermediazione di operazioni significative nel mercato multifamiliare in posizioni privilegiate.
Institutional Property Advisors (IPA), una división de Marcus & Millichap (NYSE:MMI), ha intermediado la venta de The Landing at Arroyo, una propiedad multifamiliar de 212 unidades en Simi Valley, California, por 95 millones de dólares. El precio de venta equivale a 448,113 dólares por unidad. La propiedad, construida en 2022 en 10 acres, cuenta con comodidades modernas y está estratégicamente ubicada entre las principales autopistas, proporcionando acceso a centros de empleo en Warner Center, Thousand Oaks y Camarillo.
Los ejecutivos de IPA destacaron el potencial de crecimiento de la propiedad en un mercado desatendido, con nuevos desarrollos. La sólida demografía de Simi Valley, que incluye un ingreso medio anual por hogar de 139,000 dólares, junto con altos precios de viviendas unifamiliares, hacen de The Landing at Arroyo una opción atractiva para los residentes. La transacción demuestra la experiencia de MMI en la intermediación de importantes acuerdos multifamiliares en ubicaciones privilegiadas.
Institutional Property Advisors (IPA)는 Marcus & Millichap (NYSE:MMI)의 한 부서로, 캘리포니아 시미 밸리에 있는 212 유닛의 다가구 주택인 The Landing at Arroyo의 판매를 9,500만 달러에 중개했습니다. 판매 가격은 1유닛당 448,113달러에 해당합니다. 2022년에 지어진 이 부동산은 10에이커에 위치하며 현대적인 편의 시설을 갖추고 있으며, 주요 고속도로 사이에 전략적으로 위치하여 Warner Center, Thousand Oaks 및 Camarillo의 일자리 중심지에 접근할 수 있습니다.
IPA 경영진은 신규 개발이 이루어지는 개발이 부족한 시장에서의 성장 잠재력을 강조했습니다. 평균 가구 연소득이 139,000달러에 달하는 시미 밸리의 강력한 인구 통계와 높은 단독 주택 가격은 The Landing at Arroyo를 거주자에게 매력적인 옵션으로 만듭니다. 이번 거래는 MMI가 주요 위치에서 중요한 다가구 거래를 중개하는 전문성을 잘 보여줍니다.
Institutional Property Advisors (IPA), une division de Marcus & Millichap (NYSE:MMI), a intermédié la vente de The Landing at Arroyo, une propriété multifamiliale de 212 unités à Simi Valley, en Californie, pour 95 millions de dollars. Le prix de vente correspond à 448,113 dollars par unité. La propriété, construite en 2022 sur un terrain de 10 acres, dispose d'équipements modernes et est stratégiquement située entre les principales autoroutes, offrant un accès aux centres d'emploi de Warner Center, Thousand Oaks et Camarillo.
Les dirigeants de l'IPA ont souligné le potentiel de croissance de la propriété dans un marché mal desservi avec de nouveaux développements. Les solides démographies de Simi Valley, avec un revenu annuel moyen des ménages de 139 000 dollars, combinées à des prix élevés pour les maisons individuelles, font de The Landing at Arroyo une option attrayante pour les résidents. La transaction démontre l'expertise de MMI dans l'intermédiation d'importantes transactions multifamiliales dans des emplacements de premier choix.
Institutional Property Advisors (IPA), eine Abteilung von Marcus & Millichap (NYSE:MMI), hat den Verkauf von The Landing at Arroyo, einer 212-Einheiten-Wohnanlage in Simi Valley, Kalifornien, für 95 Millionen Dollar vermittelt. Der Verkaufspreis entspricht 448,113 Dollar pro Einheit. Die 2022 auf 10 Acres erbaute Immobilie bietet moderne Annehmlichkeiten und ist strategisch zwischen wichtigen Autobahnen gelegen, was den Zugang zu Arbeitsplätzen in Warner Center, Thousand Oaks und Camarillo ermöglicht.
Die Führungskräfte von IPA hoben das Wachstumspotenzial der Immobilie in einem unterversorgten Markt mit neuen Entwicklungen hervor. Die starken demografischen Daten von Simi Valley, einschließlich eines durchschnittlichen jährlichen Haushaltsinkommens von 139.000 Dollar und hoher Preise für Einfamilienhäuser, machen The Landing at Arroyo zu einer attraktiven Option für die Bewohner. Die Transaktion zeigt die Expertise von MMI in der Vermittlung von bedeutenden Mehrfamiliengeschäften an erstklassigen Standorten.
- Sale of The Landing at Arroyo for $95 million, indicating strong demand for multifamily properties
- High per-unit sale price of $448,113, suggesting premium valuation
- Property located in an underserved market with new developments, potentially leading to higher occupancy rates
- Strong local demographics with average annual household income of $139,000 in Simi Valley
- None.
Insights
The
The strong local demographics, including a
However, investors should note that the
This transaction highlights the growing investor interest in suburban multifamily assets, particularly those in markets with high barriers to entry. Simi Valley's development pipeline - only one 280-unit market-rate property expected in the next five years - suggests a favorable supply-demand dynamic for existing properties.
The buyer profile, a private multifamily investor, indicates continued strong appetite from private capital for well-located suburban assets. This trend aligns with broader market shifts towards secondary and tertiary markets offering potentially higher yields compared to primary urban centers.
The property's proximity to major employers like Amazon, Kaiser Permanente and Amgen underscores the importance of job accessibility in multifamily investment decisions. This diverse employment base could provide resilience against sector-specific economic downturns, potentially supporting stable occupancy rates.
Overall, this transaction reflects ongoing investor confidence in select suburban markets, particularly those with strong fundamentals and new supply.
The sale of The Landing at Arroyo at a
For USA Properties Fund, the seller, this transaction potentially represents a quick and profitable exit, given the short hold period since the property's 2022 completion. The sale could free up capital for reinvestment in development opportunities or portfolio rebalancing.
From Marcus & Millichap's perspective, while the exact commission isn't disclosed, typical multifamily brokerage fees of
Investors should monitor how this high-value transaction impacts local comp sets and whether it signals a broader trend of increased institutional interest in suburban multifamily assets, potentially driving up valuations in similar markets.
“This quintessential, low-density suburban core multifamily asset is poised for substantial growth in a severely underserved market with a flat development pipeline,” said Kevin Green, IPA executive managing director investments. “In the last 25 years, just four other multifamily properties of 50 units or more have been delivered in
“Simi Valley’s strong demographics include average annual household income of
The property location between
Built in 2022 on 10 acres, The Landing at Arroyo property has seven buildings, a swimming pool and spa, game room, fitness center, co-working space, and central package lockers for deliveries. Apartments have washers and dryers, stainless-steel appliances, quartz countertops, and designer plumbing and lighting fixtures.
About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of December 31, 2023, the Company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The Company also offers market research, consulting and advisory services to our clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately
View source version on businesswire.com: https://www.businesswire.com/news/home/20240829477044/en/
Gina Relva, VP of Public Relations
Gina.Relva@MarcusMillichap.com
Source: Marcus & Millichap, Inc.
FAQ
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