Dealmaker: Berkadia Completes $44M Sale, $33M Loan in North Hollywood

(Illustration courtesy of Berkadia)

Berkadia, Ambler, Pa., closed the sale and financing of Marquee, a 236-unit garden-style multifamily property in North Hollywood, Calif.

Senior Managing Director Adrienne Barr and Director of Transaction Services Nancy Badzey of Berkadia Los Angeles led the $44 million 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 for buyer Post Investment Group, Los Angeles and Walker & Dunlop Investment Partners, Bethesda, Md. The deal closed on November 26.

“The Marquee sale represents the only 120-plus-unit rent-controlled apartment sale in the entire city of Los Angeles in the last year,” Barr noted.

Located at 12300 Sherman Way, in 1965-vintage property has 194 studios (82%), 36 one-bedroom (15%) and six two-bedroom units (3%).

The Marquee is just north of the NoHo Arts district adjacent to the Valley Plaza Park.