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BRC Advisors Closes Highest Price-Per-Door Deal: Major Transaction in the San Fernando Valley

BRC Advisors (http://www.brcadvisors.com), a leading commercial real estate brokerage firm in Southern California, proudly announces the completion of the highest price-per-door transaction in one of the top cities in the San Fernando Valley section of Los Angeles. Led by Orbell Ovaness, Vice President of Investments, and Cory Stehr, Senior Associate of the Encino office for BRC Advisors, this deal (in which Ovaness and Stehr represented both the buyer and seller) is a record for the area, totaling $9.9 million or $412,500 per door. The property, located at 5143 White Oak Avenue in Encino, is a 24-unit apartment complex with 43,870 square-feet of rentable space. The new owner of the building plans to attract middle to higher income tenants, young professionals and families.

"This sale is a significant milestone for the Valley, based on liquidity and the limited availability of luxury condominium units in the surrounding area. Our involvement with both parties, and the high price we were able to obtain in an otherwise sluggish economy, is a testament to the credibility – and sustained success – of BRC Advisors. We continue to achieve desired results for all manner of clients: landlord, tenants, investors, financial institutions, property managers and others. I congratulate my colleagues, including Cory Stehr, for making this transaction possible,” says Orbell Ovaness, Vice President of Investments for BRC Advisors.

“Orbell and Cory are part of a talented group of professionals with the expertise and trust our clients value. Their accomplishments, starting with the unprecedented sum associated with this sale in the San Fernando Valley, underscore the depth and reach of our office in Encino and elsewhere. I salute their efforts and their support on behalf of BRC Advisors,” says James Huang, Founder and Partner of BRC Advisors.

Additional features about the sale of 5143 White Oak Avenue include:

  • The average unit size is 1,600 square feet net rental, larger than a typical apartment in the area.
  • Each unit has top amenities such as granite countertops, hardwood entryways and high-end cabinetry.
  • The property attracted six offers, with the qualified candidate purchasing the property on an all-cash basis.

“This sale represents the efforts of many individuals, a collaborative undertaking where we seek to bring buyers and sellers together. I also would like to thank Orbell for his leadership, backed by the resources that distinguish BRC Advisors as the preferred standard of excellence in our industry,” says Cory Stehr, Senior Associate for BRC Advisors.

A Conservative and Disciplined Approach: BRC Advisors in Action
BRC Advisors applies a conservative and disciplined approach to its management. "Our emphasis on value, quality and comprehensive knowledge of the marketplace is critical to our success. BRC Advisors symbolizes this approach and allows individuals to be a part of our acclaimed leadership. That philosophy distinguishes our achievements, earning us respect and admiration from our peers and journalists nationwide," says Rich Enderlin, Managing Partner of BRC Advisors.

About BRC Advisors
Headquartered in Los Angeles, BRC Advisors combines over 30 years of brokerage and advisory experience within a strategically aligned network of programs. With its dedication to training and innovation, BRC Advisors is competitive in all market conditions and changing circumstances.

 

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BRC Advisors Closes Record Number of Deals in 60 Days: Nearly $225 Million in Total Transactions

BRC Advisors (http://www.brcadvisors.com), a leading commercial real estate brokerage firm in Southern California, proudly announces its 60-day record of nearly $225 million in total transactions. These deals, which cover a multitude of retail, multifamily, office and specialty properties, represent a series of successes for the firm, its partners and clients throughout Los Angeles, Beverly Hills, the San Fernando Valley, Las Vegas and elsewhere.

"The last 60 days represent a milestone for BRC Advisors, both in the number of deals and the cumulative value of these transactions. These achievements further distinguish us as a firm of versatility and resourcefulness, particularly in an economy where our principal competitors continue to face several challenges. In contrast, BRC Advisors has the presence – and credibility – to work with a diverse array of clients who share our principles: industry expertise, accessibility, consistent success, and longstanding relationships with landlords, tenants, property managers and financial institutions. As we open new offices and attract more investors, we expect the next 60 days to be another period of robust activity,” says James Huang, Founder and Partner of BRC Advisors.

A Conservative and Disciplined Approach: BRC Advisors in Action
BRC Advisors applies a conservative and disciplined approach to its management. "Our emphasis on value, quality and comprehensive knowledge of the marketplace is critical to our success. BRC Advisors symbolizes this approach and allows individuals to be a part of our acclaimed leadership. That philosophy distinguishes our achievements, earning us respect and admiration from our peers and journalists nationwide," says Rich Enderlin, Managing Partner of BRC Advisors.

About BRC Advisors
Headquartered in Los Angeles, BRC Advisors combines over 30 years of brokerage and advisory experience within a strategically aligned network of programs. With its dedication to training and innovation, BRC Advisors is competitive in all market conditions and changing circumstances.

 

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Service vs. Social Media:

Service vs. Social Media: The Ongoing Transformation in the Real Estate Industry

by James Huang
(originally posted on The Realty Times)

As technology continues to influence the real estate industry, reconfiguring the way residential and commercial brokers market themselves and their services, we should not overlook an essential principle: service. The value of bringing clients together - the benefits of enjoying longstanding contacts with buyers and sellers, and landlord and tenants - far exceeds the virtual reality of social media and other ephemera. None of which is to dismiss the importance of using new tools to facilitate deals and communicate with colleagues and clients. But when we rely too heavily on one resource - when we mistake impersonal advertisements and mass mailings for face-to-face meetings - we risk undermining our credibility and making our profession, which depends on word of mouth and client testimonials, into just another exchangeable commodity. My recommendation is, instead, a return to basics -- a way for residential and commercial brokers to move beyond Facebook or Twitter into the real world, where friends are more than a number to be tabulated and weighed against someone else's online profile or marketing literature.

Commercial and residential brokers who understand this fact - that success depends on your visibility and competence, with clients at your side - have more repeat business and more reach within your areas of expertise. For example: I encourage my partners to embrace social media, but to become the prisoner of technology. Meaning: we use social media as a way to reiterate our emphasis on service, while also showcasing new properties and announcing recently finalized transactions. But we do not use social media (including email) as a substitute for touring a building, reviewing files or offering candid advice to clients. Alas, too many individuals - within and far beyond the real estate industry - do not heed this advice, and thus they become the equivalent of avatars of themselves: people who spend too much time online, and forsake their careers and networking opportunities in the process.

This last point deserves repeating, because the real estate industry thrives on the personal relationships between brokers and their clients. It would be foolish to ignore this fact, while chasing the latest fad for the elusive goal of "visibility." From my experience, true visibility - and respect within the real estate industry - comes from providing services clients need and want, including: finding the right property for the right individual, getting suitably attractive financial agreements, earning the trust of building owners and operators, and acting as a source of intelligence for prospective buyers and sellers.

In contrast, excessive reliance of social media - constant email updates and video postings - results in nothing more than white noise -- background material that never wins the attention of the very people you seek to contact. All of which raises another question, What should brokers do to change this situation? Simply stated, brokers need to invest in themselves; they need to be forces of action - and leadership - in the areas they service. That means their presence, within a specified zone of business, is frequent and (frequently) effective.

By embracing these suggestions, real estate professionals can once again be forces for positive change. Clients need these services; and we should welcome the chance to provide such wisdom and counsel. Remember: technology is a tool, not a replacement for common sense and old fashioned networking. Bearing these facts in mind, we have every reason to prosper.




James Huang is the Principal and Founder of BRC Advisors, Inc. BRC Advisors is a full service commercial real estate company, headquartered in downtown Los Angeles with additional offices throughout Southern California, Arizona and Nevada. BRC Advisors combines a wealth of brokerage and advisory experience within a strategically aligned network of programs. With its dedication to training and innovation, BRC Advisors is competitive in all market conditions and changing circumstances.

 

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