Here's A Look At The Largest Land Purchase In Santa Monica

SANTA MONICA, CA — New York company Walker & Dunlop, Inc. announced Monday that it finalized the sale and financing for one of the largest entitled land sales on the West Coast and in Santa Monica history.

The Santa Monica Collection, a stunning eight-site development, spans 3.1 acres in the iconic city, according to a news release. Each property is well-located and features exceptional walkability, with an average portfolio walk score of 91.

In total, the development includes 325,391 net rentable square feet, including 31,473 square feet of commercial space and 627 multifamily units – all of which are fully entitled and approved by the Architectural Review Board, affording the buyer the luxury of bypassing the stringent Santa Monica development hurdles.

Walker & Dunlop's Blake Rogers, Javier Rivera, Alexandra Caniglia, and Hunter Combs represented the seller, WS Communities in the disposition. In parallel with the highly competitive sale and advisory process, the team collaborated with the firm's capital markets team, including Aaron Appel, Keith Kurland, Jon Schwartz, and Adam Schwartz, to facilitate financing from Blackstone Real Estate Debt Strategies on behalf of the buyer, Tishman Speyer.

Santa Monica is considered the epicenter of Silicon Beach and home to a number of startups and growing companies. The city is one of the most desirable areas of Los Angeles, renowned for its globally-recognized beaches and countless retailers, restaurants, and nightlife options. The city also boasts accessibility to Los Angeles' residential, economic, cultural and entertainment hubs.

Walker & Dunlop is a leader in multifamily property sales. The firm has completed $5.2 billion in property sales volume in the third quarter of 2021 alone, up 373 percent from the same period in 2020. The firm was also the top capital provider to the U.S. multifamily market, originating $31 billion in transactions and lending over $24 billion for multifamily properties in 2020. Visit our website for information about multifamily properties available for sale via Walker & Dunlop's investment sales platform.

The firm has built properties across Los Angeles, including locations in Culver City, Long Beach and San Diego.

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