Christ Unity Manor High-Rise Senior Housing Project Sold to Vitus Group for $22.5 Million, Colliers Reports


“This was the perfect storm for the right buyer,” said Gould, the lead member of the Colliers team that represented both parties to the transaction. “This project provided an opportunity for the right buyer to keep HUD-subsidized rents on the property at about the same level they are now and still maximize its investment through the extension of the HUD contracts, tax incentives, building upgrades, and other inducements.”
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Christ Unity Manor High-Rise in Koreatown Sells for $22.5 Million


“’This was the perfect storm for the right buyer,” said Gould, the lead member of the Colliers team that represented both parties to the transaction. “This project provided an opportunity for the right buyer to keep HUD-subsidized rents on the property at about the same level they are now and still maximize its investment through the extension of the HUD contracts, tax incentives, building upgrades, and other inducements.’”
Link to the press release

Outcome

Colliers Closes Sale of Post Office Site Near Cal State Northridge to Los Angeles-Based Investment Firm


“The area surrounding CSUN benefits from strong economic drivers, including a growing student population, and an overall lack of retail and housing amenities, to meet this growing demand,” said Gould. “This property offers the buyer the benefit of a steady income stream from the existing tenant, while owning a valuable piece of land in an area that is primed for future appreciation and redevelopment.”
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Cal State Northridge Redevelopment


“The area surrounding CSUN benefits from strong economic drivers, including a growing student population, and an overall lack of retail and housing amenities, to meet this growing demand,” said Gould. “This property offers the buyer the benefit of a steady income stream from the existing tenant, while owning a valuable piece of land in an area that is primed for future appreciation and redevelopment.”
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Colliers Closes Thousand Oaks Retail Investment Transaction in All-Cash Transaction


“This quick-close deal was one of the main reasons the seller elected to move forward with this buyer,” said Gould. “The buyer also immediately made a non-refundable deposit, which shows the competitive nature of this market for well-located commercial real estate.”
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Colliers Completes $9.5 Million Sale of Calabasas Office Building to Major Property and Casualty Insurance Company


“This transaction is indicative of the recovering office market in Calabasas and the west San Fernando Valley, in general, and demonstrates that demand from owner/user buyers is strengthening in this area,” Gould said. “We are seeing major tenants acquire and occupy buildings so they can fix their long-term occupancy costs in a market where office rents are rising.”
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Unico American Buys New HQ Building


“The Woodland Hills property-and-casualty insurer has bought a 46,884 square-foot office building within the Calabasas Commerce Center for $9.5 million….Jeffrey Gould, senior associate, and Jeff Albee, senior vice president, at the Encino office of Colliers International, represented the seller, Papazian-Hirsch Calabasas LP.”

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Valley-based Skin Care Product Company Purchases New Building


“Earthly Body Inc. has purchased a 40,000 square-foot industrial building in Chatsworth for about $3.8 million, according to the brokerage involved in the deal….Brock Burnett and Jeff Gould of Colliers also represented the seller.”

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