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Walker & Dunlop Completes $55 Million Sale of Trophy Resort-Style Luxury Multifamily Community in West Los Angeles, California

Walker & Dunlop Completes $55 Million Sale of Trophy Resort-Style Luxury Multifamily Community in West Los Angeles, California
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Walker & Dunlop Completes $55 Million Sale for Trophy Multifamily Community in Los Angeles, CA

Walker & Dunlop Completes $55 Million Sale for Trophy Multifamily Community in Los Angeles, CA
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$55,000,000 sale of
The Estelle on behalf of Canfield Development, Inc. to an affiliate of The Green Cities Company.
The property, a 61-unit luxury multifamily community in West Los Angeles, was built in 2020 as for-sale condominiums and was converted to for-rent apartments amid the pandemic. The property boasts exceptionally large floor plans averaging 1,474 square feet and was 30% leased at the time of the sale.
The Estelle
In addition to its spacious units, The Estelle offers residents a resort-style living experience with a state-of-the-art fitness center, Mediterranean pool, and ample green space, including three landscaped rooftops. Situated within a mostly residential neighborhood, The Estelle features stunning views of Los Angeles while also offering convenient access to the city s employment nodes, dining, cultu ....

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Walker & Dunlop Completes Sale and Financing of 293-Unit Marquis Multifamily Community Near Los Angeles' Iconic Staples Center

LOS ANGELES, CA - Walker & Dunlop, Inc. announced that it completed the sale and financing for OLiVE DTLA, a 293-unit Class A multifamily property completed in 2016.
The seven-story building is located in Downtown Los Angeles vibrant South Park neighborhood, one of the city s most desirable neighborhoods, offering immediate access to entertainment centers such as L.A. Live, the Staples Center, Microsoft Theatre, and the Novo.
Walker & Dunlop s Blake Rogers, Alexandra Caniglia, Hunter Combs, Javier Rivera, and Kevin Sheehan represented the property ownership. Justin Nelson and Allan Edelson worked alongside the sales team to arrange acquisition financing on behalf of Waterton, the buyer. ....

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Shekhters' Santa Monica Giant Resi Portfolio Hits Market

Neil Shekhter (Shekhter by Kevin Scanlon; iStock)
It’s official: The largest multifamily development opportunity in Santa Monica in a generation is now on the market.
WSC Communities’ 23-parcel portfolio, entitled for the development of over 2,100 units and over 1 million square feet of residential space, is being billed by the brokers as a chance for a buyer to become the largest multifamily landlord in Santa Monica, controlling about 7 percent of the city’s market-rate inventory.
WSC is controlled by the family of prominent Westside landlord Neil Shekhter, and led by CEO Scott Walter. Shekhter declined to comment. In December,
“Never has there been an opportunity to acquire a development portfolio of this size in Southern California, never mind Santa Monica,” state the marketing materials, which were reviewed by ....

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Shekhters Seek Buyer for Santa Monica Mega-Portfolio

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NMS Properties’ Neil Shekhter and renderings of 1325 6th Street, 1437 6th Street, 1430 Lincoln Blvd. and 1318 Lincoln Blvd. in Santa Monica (Kevin Scanlon, WSC)
In what looks to be the largest development portfolio offering in Santa Monica in a generation, WSC Communities will put 23 mostly entitled mixed-use sites on the market next month,
The Real Deal has learned.
Marketing the land after the city of Santa Monica already greenlighted over 2,100 apartments on the sites is a stunning turn for WSC, which is controlled by the family of prominent Westside landlord Neil Shekhter. The company spent years assembling the parcels and securing entitlements, in a seaside city that even by Southern California standards is notoriously difficult to develop in. ....

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