Los Angeles
JV Buys $365M Community in LA
The 350-unit property in the Westwood neighborhood also features 50,000 square feet of retail space. The acquisition was financed by a $160 million loan.
CIM Group Completes 2 LA Communities
CIM Group has finished the development of a 50-unit development in Silver Lake near East Hollywood. The firm also delivered Elevate, the second phase of a three-phase development in West Los Angeles.
California’s Apartment Industry Eyes Wildfire Recovery Plan
As wildfire season approaches, state legislators are considering a comprehensive package, including a fund that would help keep utilities financially stable after major fires.
Historic Landmark Changes Hands in West Hollywood
Casa Real encompasses 60 units and is located within walking distance of Sunset Boulevard. New owner Concord Capital Partners used a $13.9 million loan to purchase the $17.3 million asset.
Glendale Apartment Portfolio Commands $79M
Raintree Partners has purchased seven multifamily properties and added 231 units to its growing portfolio of smaller multifamily properties in urban California locations.
Los Angeles Community Gets $121M Financing
The 566-unit property is owned by GHP and is the third phase of Orsini, a 1,072-unit community built between 2003 and 2010.
LA Community Changes Hands for $24M
Lion Real Estate Group purchased the 100-unit asset in 2015 for $15.5 million and sold it after renovating more than half of the property.
Rehab Complete on 90-Year-Old LA Units
Community Preservation Partners spent $11.9 million on The Curtis Johnson Apartments, a six-building portfolio in the Vermont Harbor neighborhood that the company renovated.
Storm-Damaged South Bay Community Changes Hands
New owners IDEAL Capital Group and Aegon Real Assets US will invest in renovations and upgrades of the 105-unit asset sold by Stockbridge Capital Group.
Los Angeles Multifamily Report – Spring 2019
A spate of new supply over the past three years has put a damper on rent growth, which nonetheless remains above the national average.