Whittier, Calif– Triqor Group is breaking cap rate records in the Los Angeles market with the sale of two multifamily properties in the vibrant City of Whittier. The 40-unit Heritage Manor and Villas, with cap rate of 3.8%, sold for $8,270,000 to a private 1031 exchange buyer. The Malibu and Madrid Apartments, with a total of 46-units and a cap rate of 3.6%, sold for $8,740,000. With significant upside potential in both apartment properties, IPG’s managing partner, Chris Keramati strategically represented both buyer and seller on both transactions, resulting in a seamless execution for all parties.
“The seller was exploring the disposition of the nearly $20-million-dollar portfolio and hired IPG based on our local market knowledge and transaction market share in Whittier. We were able to achieve 99.2% of list price and generated double digit offers on each asset.”