Woodland Hills, CA (PRWEB) March 10, 2015
“The Inglewood / LAX corridor is proving itself a new opportunity for commercial real estate investors,” states Kevin M. Levine, EVP of Peak Commercial (http://www.peakcommercial.com) referring to his recent transaction involving two multifamily assets in close proximity to LAX and Hollywood Park. Peak Commercial specializes in commercial buyer / seller representation in multifamily, retail, office building, industrial, land and REO commercial transactions. Levine notes increased interest from investors looking for new opportunities for expansion. The current sale, in Levine’s opinion “represents even more commercial real estate deals to be had in the Southwest Los Angeles sector.”
“The combination of available commercial inventory, Los Angeles Metro service expansion into the area, and renewed interest in building an NFL stadium on the site of the Hollywood Park Racetrack facility has drawn investors back to Southwest Los Angeles and has had a significant impact of commercial property values,” according to Levine. The multi-property deal includes adjacent multi-family units located at 10202-10206 S.10th Avenue near LAX, and a 12-unit complex on 921 N. Cedar Avenue closer to Hollywood Park with an average price per unit estimated at $ 140,000.
Peak Commercial represented the investor for the multifamily properties, facilitating the acquisition as part of a 1031 Exchange. The guidelines of a 1031 Exchange allow investors the ability to sell a property involved in a business transaction and reinvest the proceeds in a similar property to defer capital gain taxes. “Working with our buyer, we crafted a deal that not only included the acquisition of income property with amazing potential, but also maximized returns over the long term by mitigating tax liability.”
Peak Commercial is one of the entities in the Peak Corporate Network, headquartered in Woodland Hills, California. In addition to commercial real estate brokerage services, the Peak Corporate Network group of companies provide loss mitigation and workout services, residential real estate brokerage services, escrow services, 1031 exchange services, real estate financing, short sale services, foreclosure services and loan servicing. For more information, visit http://www.peakcorp.com.
The Peak Corporate Network is a brand that represents a group of related separate legal entities, each providing its unique set of real estate services.
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