Evanisko Closed North Hills Trifecta
Evanisko Realty & Investment, Inc. exclusively represented three separate sellers in the transaction of three separate North Hills development sites on the same block. Each sale was to a unique buyer and each slated for vastly different development typologies.
The three sites together represented a total amount of consideration of $12,285,000 and will undoubtedly have a profound positive influence on the growth trajectory of this North Hills location.
Transaction #1: 58 market rate townhome condominiums. Evanisko played a critical role as project manager for the selling partnership for four years to facilitate the finalization of entitlements including general plan amendment, zone change, and tentative tract map.
Transaction #2: 36,000 SF charter school with existing SFR being used as school office. Evanisko facilitated negotiations to enable the buyer to reach CUP entitlement prior to close. This enabled the site to trade for maximum value.
Transaction #3: This parcel was originally part of the townhome development site it borders at its southernly corner. However, the cell tower company on site remained adamant that transmission would be affected by any such development. Evanisko made subsequent attempts to negotiate other forms of development configurations with the cell tower company to no avail despite decisive market interest in developing townhomes or affordable housing. Evanisko pivoted with the interest by a nursery business seeking SBA financing. This required a zoning analysis demonstrating to the SBA backed lender that the current zoning would be conducive for such business operations.
