The Korda Group Sells Gaviota Apartments in Encino

  |     |   Sales

The Korda Group sold 4084 Gaviota, a 28 unit 1970s area building in Encino, California. The building was the last community owned by The Korda Group built by Joseph Korda, the Company’s founder. “While the sale of such a sentimental asset is bittersweet, we have outgrown communities of this size and feel the capital can be better deployed elsewhere,” said Robert Korda, the President of The Korda Group. “In addition, with cap rate compression for legacy assets in Los Angeles County at an all time high, we were able to fetch a price above our expectations for such a mature asset.”

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