Berkshire Group Expands its LA Portfolio

By Evelyn Jozsa

K2LA

Berkshire Group has acquired a 177-unit, six-story mid-rise property in the Koreatown neighborhood of Los Angeles. The asset is one of the three contiguous constructions, originally known as K2LA and has been renamed as Berkshire K2LA.

Located at 685 New Hampshire, Berkshire K2LA is the company’s third asset added to the Los Angeles portfolio. Previous purchases include One Santa Fe in the Arts District and MetLofts in downtown Los Angeles.

“Los Angeles is one of Berkshire’s top target markets as it meets all of our criteria for sustained growth over the longer term,” said Eric Schrumpf, senior vice president of multifamily acquisitions at Berkshire Group in prepared remarks. “The Koreatown submarket has a walk score of 95 and provides convenient access to jobs, public transit and one of the most vibrant nightlife and entertainment scenes in all of Southern California. We’re excited to bring the Berkshire brand to Koreatown and continue to look for additional opportunities to expand our portfolio across Southern California.”

The property’s unit mix consists of studio, one- and two-bedroom apartments, which feature gourmet kitchens with stainless steel appliances and in-unit storage with washer and dryer.

Community amenities include:

• clubhouse with game tables and 80-inch flat screen TVs
• a rooftop deck
• grilling center
• pool
• spa
• fireplaces

Image courtesy of Business Wire