Triqor Group is pleased to announce the recent closings of over $50 million worth of transactions within Los Angeles County. Managing Partner, Chris Keramati, successfully represented both buyer and seller for all transactions and was able to negotiate appropriate measures to facilitate 1031 Exchanges on each of the transactions.
The Med Apartments, sold at $8,780,000, is a 29-unit property built in 1987 and located in Long Beach consisting of all 2-Bedroom 2-Bathroom units. In addition to being located in a highly attractive market, The Med Apartments sold for over $300,000 per unit. During the transaction process, Chris was able to negotiate a long escrow with seller extensions in order to successfully facilitate a 1031 Exchange. Chris additionally identified the seller’s replacement upleg property prior to closing escrow on the downleg.
Durfee Apartments, sold at $10,400,000, is a 36-unit property built in 1987 and located in Pico Rivera consisting of all 2-Bedroom 2-Bathroom units. Durfee Apartments sold for just under $300,000 per unit and closed escrow within 30 days of listing. Chris successfully negotiated 10-year seller carry financing with built in prepayment penalties and strong down payment to secure the seller’s position while providing a strong annuity.
Seine Gardens, sold at $10,770,000, is a 41-unit property built in 1980 located in Lakewood consisting of almost all 2-Bedroom 1-Bathroom units. Seine Gardens managed to generate multiple offers within a short period of time. Additionally, to successfully facilitate a 1031 Exchange, Chris negotiated a long escrow with seller extensions and identified the seller’s replacement property within three days of removing contingencies on the downleg.
Tribeca Apartments, sold at $21,100,000, is a 96-unit property located in Azusa consisting of majority 2-Bedroom units. Tribeca Apartments generated multiple offers within a short period of time. Chris successfully negotiated a long escrow with seller extensions in order to successfully facilitate a 1031 Exchange. Chris also assisted in identifying an out-of-state replacement upleg property during escrow and expedited the closing to accommodate the upleg closing.