Crimson Wins its Lengthy Battle to Purchase 20405 Sherman Way

Crimson Fund Advisors, a Los Angeles-based real estate investment and development firm, recently acquired 20405 – 20417 Sherman Way after a lengthy battle for control of the asset. The 75,000 square-foot, 82-unit building is Crimson’s third multifamily acquisition in the San Fernando Valley.

“The Greater San Fernando Valley market is one of the largest in the country. With over 1.8 million people, if the San Fernando Valley were its own City, it would be the fifth largest in the U.S. – larger than Philadelphia or Dallas. It is an area of Los Angeles often-overlooked by investors. To us, though, it is a diverse market ripe with opportunities. With the acquisition of Sherman Way, we are excited to expand our presence in the highly sought after area”, said Pamela Day, CEO of the Crimson Companies.

20405 – 20417 Sherman Way was constructed in 1964. Crimson is planning a significant renovation of the building’s interiors and exterior to keep up with demands of the renters in the immediate area. The property is located near Warner Center and Pierce College.

Crimson has been actively acquiring multifamily property in California since 2002 and made its first entry into the San Fernando Valley in 2011.

The three-year escrow and ownership battle for the property was fought by attorney for Crimson Mark Geragos, after the seller attempted to back out of the contract.

About The Crimson Companies

Founded in 2002, The Crimson Companies are a family of California-based real estate investment, development and management and services companies headquartered in Los Angeles with satellite offices in San Francisco and Austin, TX. The company acquires and develops multifamily and mixed-use properties throughout urban infill areas, and also offers a comprehensive array of real estate services including property management, construction management, development services, and investment management. For further information on The Crimson Companies, please visit www.crimsonholdings.com