BRC Advisors Brokers 190-Unit Sale of Los Angeles’ Historic William Penn Apartment Homes
BRC Advisors, one of the top commercial real estate brokerages in the Greater Los Angeles area, today announced the sale of the William Penn Apartment Homes in downtown Los Angeles. The historic, 190-unit reinforced brick apartment complex, which just underwent over $3 million in renovations, is located at 2200 W.
8th Street in Los Angeles, just west of downtown and sold for $17,825,000. Los Angeles — based BRC Advisors is a significant powerhouse in the Western U.S., having closed more than 3/4 of a billion dollars in real estate transactions in 2015. BRC Advisors has five offices in Greater Los Angeles: Downtown LA, Beverly Hills, Manhattan Beach, Encino, and Mid-Wilshire.
Rich Enderlin, BRC Advisors’ COO and Managing Partner credits top agent Ardy Ishal in making the deal happen saying, “While the William Penn deal was a rare value-add opportunity, there is a very small niche market for brick buildings and predominantly studio units in Los Angeles. The property was on the market for several months, in and out of escrow. It took Ardy to not only find the “Needle in the Haystack” buyer but to navigate the deal to its successful closing.”
On August 1, 2016, BRC Advisors announced that it has entered into a joint venture with Sperry Commercial Global Affiliates to provide a full-service commercial real estate franchise providing investment sales, leasing, and management services. As part of this collaboration, BRC Advisors’ CEO and founder James Huang will serve as president of the Sperry Commercial Global Affiliates team adding 100 of its firm’s brokers to the new platform.
By offering a more collaborative brokerage platform, designed to benefit both large and small firms, teams will gain access to innovative technology platforms and training that can heighten the success of each transaction. BRC Advisors’ Huang states, “Aligning with Sperry Commercial Global Affiliates gives an individual and firm access to people and training that will benefit their future success and their clients’ outcomes as well as providing added leverage with the Sperry and BRC Advisors brands for all of their commercial real estate deals.”
Since making this groundbreaking announcement in early August, Enderlin notes that BRC has entered into formal negotiations to open four new offices in the Bay area and has preliminary agreements from two independent affiliates in Dallas, Texas and Gaithersburg, Maryland.