MLT Properties sells Valley Village condos back to developer for $16M
The developer behind a Valley Village condo complex bought back the property in a deal that underscores continued demand for flexible multifamily assets in the San Fernando Valley. Marcus & Millichap’s Rabbie Banafsheha and Tony Azzi brokered the sale of the 48-unit condominium at 11925 Kling Street for $15.9 million, or $331,250 per unit, Connect CRE reported. The seller was MLT VII LLC, linked in state business records to local multifamily landlord May Ling Yu of MLT Properties. The buyer was identified only as the project’s original developer, which completed the building in 2012. The developer was Canoga Park-based California […]This article originally appeared on The Real Deal. Click here to read the full story.
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