Avison Young has actually been chosen to market for sale a newly constructed, Class A multifamily portfolio amounting to 190 systems throughout 3 properties in the Echo Park community of Los Angeles. Known jointly as the Echo Park Portfolio, the offering includes Park, situated at 200 N Toluca St.; Vista, situated at 215 N Toluca St.; and Zag, located at 1750 Glendale Blvd.
. The Avison Young Capital Markets team consisting of Peter Sherman, Hannah Maile, Sam Chow, James Nelson and Erik Edeen is leading the marketing efforts on behalf of the seller, Aragon Characteristic, an award-winning Vancouver-based multifamily designer The portfolio is unpriced.
The portfolio presents financiers with an uncommon opportunity to obtain institutional-quality multifamily product with considerable long-lasting benefit, according to Avison Young. All 3 homes are exempt from the Los Angeles Rent Stabilization Regulation (RSO), allowing for unlimited market-rate lease development in a city where more than 75% of multifamily inventory remains rent-controlled.
“Opportunities to get recently built, non-RSO multifamily product at scale in Echo Park are extremely uncommon,” said Sherman. “This portfolio integrates high-quality building and construction, leading walkable areas and immediate operational benefit in one of Los Angeles’ most culturally vibrant neighborhoods.”
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The post Avison Young Markets Echo Park Multifamily Portfolio appeared initially on Connect CRE.