LOS ANGELES, Oct. 26 /PRNewswire/ -- Hendricks & Partners
is pleased to announce the sale of the 298-unit Serravella
Apartments, located at the foot of the Hollywood Hills at
1710 North Fuller Avenue on the corner of Hollywood Boulevard
in Los Angeles County, CA. Constructed in 1987, this mid-rise
resort-style community is just minutes from many Hollywood
attractions including Grauman's Chinese Theater, the Kodak
Theater, and the Hollywood Walk of Fame.
This transaction
closed on October 24th, 2007 for $86,250,000 and was sold
by Security Properties of Seattle to Prometheus Real Estate
Group out of the Bay Area, who plans on executing a substantial
renovation of the asset.
This transaction
was handled by Joe Leon of the Newport Beach office and Dean
Zander of the Los Angeles office of Hendricks & Partners.
About Hendricks
& Partners
Hendricks
& Partners, headquartered in Phoenix, Arizona, is the
nation's largest sales and research firm focused exclusively
on the multifamily industry. Hendricks & Partners' research
group is nationally renowned for their comprehensive market
reports and newsletters, which provide the nation's top apartment
investors, lenders, owners, and real estate editors with accurate
and timely multifamily market information. For more information
on Hendricks & Partners, please visit http://www.hendrickspartners.com.
