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http://www.crefeed.com/news/204167-svn-orchestrates-21.7m-sale-of-los-angeles-apartments
Published: Monday, November 19, 2007
Kitty Wallace orchestrates $21.7M sale of Los Angeles apartments
SVN orchestrates $21.7M sale of Los Angeles apartments
by Chad King
The Tower at Hollywood Hills
The Kitty Wallace Team
SC Normandie, Inc. has purchased The Tower at Hollywood Hills apartments for $21.7 million from Normandie Avenue Properties, LLC.
Kitty Wallace of Sperry Van Ness represented both BlackRock and the seller in the transaction.
The 80-unit complex is located at 1800 N. Normandie Ave. in Los Angeles' Los Feliz submarket in the Hollywood Hills. The property was built in 1990 and underwent interior renovations in 2007. It contains 55,350 square feet and a mix of studio and one-bedroom units. The apartments were 100 percent occupied at the time of sale and were purchased with a 5.1 percent capitalization rate.
Wallace is the senior VP of SVN's West Los Angeles office. She joined the company in 1997 and now leads the seven-member Kitty Wallace Team, which specializes in California multi-family properties. Wallace is a graduate of the University of Southern California and serves on the board of the school's LUSK Center.