Institutional Property Advisors Closes Multifamily Asset Sale in Los Angeles
April 22, 2026
LOS ANGELES, April 22, 2026 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI) dedicated to serving the company’s institutional clients, announced today the sale of San Regis, a 390-unit multifamily property in the Van Nuys neighborhood of Los Angeles, California. The sale represents the largest multifamily transaction by unit count to sell in Van Nuys since 2015.
“As the boundaries and strong demographics of Sherman Oaks and Encino continue to push north, Van Nuys has benefitted from strong demand for renovated apartment homes in the San Fernando Valley,” said Kevin Green, IPA executive managing director investments. “Because of nearly $17 million invested in capital improvements since 2020, this 1960s-vintage asset’s effective age is closer to 2000, which helped drive interest and activity.” Green, Joseph Grabiec, and Gregory Harris of IPA represented the seller, Nuveen Real Estate. “We continue to provide investors with multiple opportunities to add value, including converting market-rate apartments to affordable housing,” said Grabiec.
The property’s location gives residents easy access to Interstate 405, State Route 170, U.S. 101, State Route 134, and Interstate 5. The Van Nuys G Line Metro station and the Van Nuys Metrolink train station are close by. There are 2.9 million jobs in Sherman Oaks, Warner Center, Studio City, Burbank, Westwood, and Century City within a 30-minute commute.
San Regis is a five-building, gated community with two levels of subterranean parking, a Junior Olympic-sized swimming pool, three pickleball courts, and a modernized fitness center. All units have breakfast bars, and a private patio or balcony. Renovated units have stainless-steel appliances, quartz countertops, Shaker-style cabinets, and updated plumbing and lighting fixtures.
“As the boundaries and strong demographics of Sherman Oaks and Encino continue to push north, Van Nuys has benefitted from strong demand for renovated apartment homes in the San Fernando Valley,” said Kevin Green, IPA executive managing director investments. “Because of nearly $17 million invested in capital improvements since 2020, this 1960s-vintage asset’s effective age is closer to 2000, which helped drive interest and activity.” Green, Joseph Grabiec, and Gregory Harris of IPA represented the seller, Nuveen Real Estate. “We continue to provide investors with multiple opportunities to add value, including converting market-rate apartments to affordable housing,” said Grabiec.
The property’s location gives residents easy access to Interstate 405, State Route 170, U.S. 101, State Route 134, and Interstate 5. The Van Nuys G Line Metro station and the Van Nuys Metrolink train station are close by. There are 2.9 million jobs in Sherman Oaks, Warner Center, Studio City, Burbank, Westwood, and Century City within a 30-minute commute.
San Regis is a five-building, gated community with two levels of subterranean parking, a Junior Olympic-sized swimming pool, three pickleball courts, and a modernized fitness center. All units have breakfast bars, and a private patio or balcony. Renovated units have stainless-steel appliances, quartz countertops, Shaker-style cabinets, and updated plumbing and lighting fixtures.
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About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.