MDNI Group приобрела 28-квартирный комплекс на Оушен-авеню со скидкой более чем в три раза

MDNI Group acquired the 28-unit Ocean Avenue property at a steep discount. A 28-unit coastal apartment complex along Santa Monica’s beachfront corridor traded hands for $23.5 million in a court-supervised receivership sale, marking a sharp drop from its previous purchase price. Sherman Oaks-based real estate firm MDNI Group purchased the three-story property at 901 Ocean Ave. for roughly $839,000 per unit, according to property records reported by The Real Deal. As part of the transaction, the buyer also assumed approximately $2.4 million in transaction-related financial obligations. Commercial real estate services firm CBRE represented the court-appointed receiver during the disposal of the asset. The property was previously owned by Coastline Real Estate Investments, which acquired the building for $33 million in 2021. The receivership transaction concluded with the asset selling for nearly $10 million less than its trade price five years prior.