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Home Finance Essex Sells 101-Unit Promenade in Marina del Rey for $24.8MM, Below Its 2004 Purchase Price
FinanceIndustry NewsLos AngelesResidential

Essex Sells 101-Unit Promenade in Marina del Rey for $24.8MM, Below Its 2004 Purchase Price

September 11, 20263 Mins read792
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Essex Property Trust sold the leasehold on The Promenade, a 101-unit Marina del Rey waterfront community, for $24.8 million to Coastline Real Estate Advisors, ending a 22-year hold at less than it paid in 2004 as a shrinking county ground lease weighed on value.

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