Multifamily Pricing Holds in Los Angeles

Multifamily pricing has remained stable during the pandemic, according to sell-side brokers at James Capital Advisors that have closed two deals in Los Angeles. Mike Hanassab and Elliot Hassan closed two transactions in Los Angeles totaling $22.9 million, and both assets achieved near flat pricing compared to pre-pandemic valuations.

“We thought the majority of transactions we were going to see were going to be 1031 exchanges. However, after the first month or so, lenders continued to be active, and that allowed investors to get into the market,” Hassan, a senior director at James Capital Advisors, tells GlobeSt.com. “That has definitely helped. Rent collections are also better across the board, and that has helped as well.”