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Institutional Property Advisors Brokers Sale and Arranges Financing for Boutique West Los Angeles Multifamily Asset

MMI
  • Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced the sale & financing of Luxe Villas, a 60-unit multifamily asset in Brentwood, Los Angeles.
  • The property sold for $49,494,000 ($824,900 per unit) to TruAmerica Multifamily.
  • The transaction represents one of only three post-2000 built assets with 50-plus units to trade in Brentwood in the last 25 years.
  • IPA represented the seller & procured the buyer, with Kevin Green, Joseph Grabiec, & Gregory Harris leading the deal.
  • Brian Eisendrath, Cameron Chalfant, & Jake Vitta of IPA Capital Markets arranged the acquisition financing.
  • Brentwood is described as one of California's most affluent submarkets with average annual household incomes exceeding $213,000.
  • The property offers proximity to Brentwood Village, 2 million+ square feet of office space, & major employment centers in Silicon Beach via Interstates 405 & 10.
  • Nearby tenants include major technology, media, & entertainment companies such as HBO, Lionsgate, Red Bull, Hulu, Riot Games, & Activision.
  • Amenities include a central courtyard, rooftop lounge, electric vehicle charging stations, & a two-level gated parking garage.
  • The unit mix consists of one one-bedroom, 53 two-bedroom, & six three-bedroom units, with all but one renovated.
  • Upgraded features include in-unit washers & dryers, double-pane windows, & modernized plumbing & electrical systems.
  • Three-bedroom layouts were reconfigured into 18 co-living suites with private-entry smart lock systems & en-suite configurations.
  • Marcus & Millichap closed 8,818 transactions totaling $50.8 billion in sales volume during 2025.