HOLLYWOOD-The sale of a stabilized apartment here, a bankruptcydeal and a note sale illustrate that every deal today is unique,according to the brokers who negotiated them. Principal Matt Ayerof Agoura Hills-based RcmaGroup, who engineered the deals alongwith partner Ryan Cassidy, tells GlobeSt.com that the three sales"illustrate the market we are in today" in that all three of thetransactions are "uniquely different."

In the Hollywood sale, a local buyer acquired a 30-unitapartment complex at 2330 N. Cahuenga Blvd., across from theHollywood Bowl, in a sale that generated 20 offers in a matter ofdays. Ayer says the property generated such strong investorinterest because of the quality of the complex, which was built in1987, its location near the Hollywood Bowl, its 98% occupancy andits lack of rent control.

Price was not disclosed, but Ayer says the property, which hadnever traded before, closed at a cap rate in the range of 5.5%,with Ayer and Cassidy representing both the buyer and the familytrust that sold the property. "In that location, for that type ofproduct, there is hardly any inventory, and there is a lot of moneychasing it," Ayer says. He notes that rents in the building arebelow-market, which creates the potential for upside in anon-rent-controlled building. He also notes that, although therewere no contingencies to the transaction, the buyer was able to geta 65% loan.