San Sebastian Properties bought Villa Grande, a 78-unit apartment property in Reseda, for $21.5M. Built in 1987, the complex consists of all two- and three-bedroom individually deeded townhomes. Berkadia's Dean Zander and Vince Norris listed and sold the property, marking their seventh sale in the SF Valley in Q3. The property (Yolanda Avenue and Saticoy Street) attracted 120 interested buyers representing a variety of capital sources, including private investors, sponsored equity groups and condo converters. The buyer plans to spend $15k/unit in upgrades.
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