Family office picks up BW for highest price per unit in LA in over 3 years
A Japanese family office has picked up a Brentwood multifamily building for $58.1 million, the city’s most-expensive price per unit in years, according to a broker on the deal.
Famh Group acquired BW, a 78-unit apartment building at 1168 South Barrington Avenue from California Landmark Group, according to a news release from Institutional Property Advisors, a subsidiary of Marcus & Millichap. The deal pencils out to $744,900 per apartment, the city’s highest price per unit “of an institutional-sized transaction of $30 million or more” in over three years, IPA’s Joseph Grabiec said.
Featured Image: Landmark Group’s Ken Kahan and Ari Kahan with 1168 S Barrington Avenue in Brentwood, Los Angeles (The BW, LinkedIn)
