None
EN
In Largest U.S. Multifamily Sale Since 2024, BlackRock Pays $1.63B in SoCal
['Greg Cornfield', '.Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow', 'Class', 'Wp-Block-Co-Authors-Plus', 'Display Inline', '.Wp-Block-Co-Authors-Plus-Avatar', 'Where Img', 'Height Auto Max-Width', 'Vertical-Align Bottom .Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow .Wp-Block-Co-Authors-Plus-Avatar', 'Vertical-Align Middle .Wp-Block-Co-Authors-Plus-Avatar Is .Alignleft .Alignright']
Commercial Observer
BlackRock has acquired more than 3,600 rental residential units in Southern California in one of the region’s largest commercial real estate deals in recent memory.
It’s also the largest U.S. multifamily sale since June 2024.
One of the investment vehicles run by the asset management titan put down $1.63 billion for Camden Property Trust’s 11-property portfolio.
The portfolio is 96 percent occupied, with 3,620 apartment units in Los Angeles, Orange, Riverside and San Diego counties.
JLL Capital Markets announced the deal Wednesday after it represented Houston-based Camden in the sale, and arranged $566.6 million in agency acquisition financing for the buyer.