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Investor Sets Sights on Glendale

GLENDALE, CA—The Sirott Family Trust expands its multifamily portfolio with the acquisition of two apartment complexes for a total of nearly $25 million in an off-market transaction.

By Kelsi Maree Borland | Updated on May 28, 2014

GLENDALE, CA—The Sirott Family Trust has acquired two apartment complexes in Glendale for a total of $24.8 million in an effort to expand its Los Angeles multifamily portfolio. This is the first time the properties have come to market since the original development.

“This was a good opportunity for the buyer to increase its portfolio. He has additional units in the area, and he had enough capital for close to a 45% down payment,” Jesus Henao, VP at NAI Capital‘s Encino office, tells GlobeSt.com. Henao represented the buyer in both transactions. 

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