MWest Holdings Announces Sale of 4130 Cahuenga
*** FOR IMMEDIATE RELEASE ***
LOS ANGELES (May 10, 2018) -- MWest Holdings, a Los Angeles-based real estate and investment firm with over 2 million square feet of residential and commercial property across the U.S., today announced the sale of 4130 Cahuenga Boulevard, a 71,308 square foot office building in Toluca Lake, CA for $21.7 million, $304.75 per square foot. The asset was purchased by Harbor Associates, who are looking to purchase properties in Southern California, Denver, and Salt Lake City over the next two years.
MWest Holdings purchased the asset in 2011 for $15.2 million from a family trust. In 2017, the office space served as temporary office space for the headquarters of MWest Holdings during a renovation of their permanent office space in Sherman Oaks. “The sale of this asset is a result of our core strategy to continue our expansion of multifamily properties,” said Karl Slovin, President of MWest Holdings
About MWest Holdings: MWest Holdings is an experienced real estate investment company with over 2 million square feet of residential and commercial property across the United States. Founded in 1991, MWest is known for creating innovative development solutions that instill a sense of neighborhood and integrity and create a lasting, tangible value. As a highly successful and stable owner of real estate, MWest has continually employed sound business practices, low leverage, and stringent underwriting guidelines for each investment opportunity. The company's success is anchored in a philosophy that imagination is the only limiting factor to growth.
MEDIA CONTACT: Kyle Kokkales ∙ 818.501.5600 ∙ marketing@mwestholdings.com