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Saturday, Jul 2, 2022

Canoga Park Apartment Complex Sells for $30 Million

An 80-unit apartment complex in Canoga Park has sold for just over $30 million, or $375,000 per unit.

According to The Real Deal, NMS Properties sold the units to Domino Realty, a Beverly Hills-based investor.  Blake Rogers at Walker & Dunlop brokered the deal.

Headed by Chairman Steve Gordon, Domino was founded in 1970 and owns office buildings, retail centers, self-storage and RV parks.

The complex, located at 21021 Vanowen St., borders the Warner Center area, the focus for a lot of residential development and deals, in concert with the Warner Center 2035 Specific Plan to revitalize Woodland Hills into the downtown of the San Fernando Valley. In September, Hanover Co. sold a 394-unit complex in Canoga Park to North Carolina-based investment firm Bell Partners for $110 million.

Michael Aushenker
Michael Aushenker
A graduate of Cornell University, Michael covers commercial real estate for the San Fernando Valley Business Journal. Prior to the Business Journal, Michael covered the community and entertainment beats as a staff writer for various newspapers, including the Jewish Journal of Greater Los Angeles, The Palisadian-Post, The Argonaut and Acorn Newspapers. He has also freelanced for the Santa Barbara Independent, VC Reporter, Malibu Times and Los Feliz Ledger.

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