2 Property Portfolio
- Address: 31225 La Baya Drive, Westlake Village, CA
20720 Ventura Boulevard, Woodland Hills, CA
- Total Building Area: 78,074 SF
- Total Land Area: 116,909
- Occupancy: 66%
- Sales prise – $13,850,000
- Prise/SF – $177,99
The owner secured these two properties to add value and to operate. For health reasons, the owner decided to sell. Because of falling interest rates and an improving economy, he was able to sell for a good profit. The plan was to liquidate and simplify, with the seller preferring to market the buildings prudently.
After analyzing the low returns from the apartment building market. The Albee Team was able to convey through market statistics and analysis, the upside in the office building market, and in turn, re-focused the buyer’s interest to these bulldings.
The plan materialized out the need to simplify a client’s lite and through consultation with the seller. The Pacific Bridge Team enabled him to understand the benefits of liquidation. The buyer achieved their goals of tax deferring their equity and obtaining quality properties, and was able to negotiate better terms with the existing lender.