Raintree Partners has acquired a seven-property, 231-unit multifamily portfolio in Glendale for $79 million. The acquisition is part of the firm's strategy to assemble portfolios of small apartment properties in Southern California.

The seven properties include Stanley Oaks Apartments, an 80-unit community located at 1435 Stanley Avenue; Everett Apartments, an 8-unit community located at 138 N. Everett Street; Wilson Apartments, a 14-unit community located at 1458-1462 E. Wilson Avenue; Justin Oaks Apartments, a 54-unit community located at 1133 Justin Avenue; Chestnut Apartments, a 33-unit community located at 120 W. Chestnut Street; Galleria Pointe Apartments, a 22-unit community located at 1140 N. Columbus Avenue; and Burchett Apartments, a 20-unit community located at 314-320 W. Burchett Street.

Alex Mogharebi and Otto Ozen of The Mogharebi Group represented the seller in this transaction. Wells Fargo provided the acquisition financing.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.