BlackRock pays $1.6B for Camden’s last SoCal apartments
BlackRock added 11 apartment complexes to its Southern California portfolio, nearing the record for multifamily transactions in the region. The New York-based firm acquired the portfolio, comprising 3,620 units across Los Angeles County, Orange County, the Inland Empire and San Diego County, for $1.6 billion, L.A. Business First reported. Camden Property Trust was the seller in a transaction that marked the Houston-based firm’s official exit from California. BlackRock made the purchase with $566.6 million in acquisition financing arranged by JLL and secured by seven of the properties. The deal represents the priciest multifamily transaction in Southern California since June 2024 […]This article originally appeared on The Real Deal. Click here to read the full story.
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