Raintree Partners Sells 112-Unit Candela Multifamily Property to Cityview in Los Angeles for $35.5M ($316K/unit)

12/20/2024

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REBusinessOnline

• Subcategory: MF: Market Rate

• Tag: Sale

• Additional Filters-Subcategory: MF: Garden

• Additional Filters-Tags: Sale: Investment, Sale: Single Property

• Company: Marcus & Millichap (NYSE: MMI), Cityview

Raintree Partners has completed the disposition of Candela, an apartment community in the Hollywood Hills neighborhood of Los Angeles. Cityview acquired the asset for $35.5 million, or $316,875 per unit. Kevin Green, Joseph Grabiec and Gregory Harris of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the transaction.