Transwestern Brokers Sale of LA Luxury Asset
- May 24, 2018
Transwestern has arranged the sale of a newly constructed, 13-unit community in Culver City, Calif. The Class A property changed hands for $8.3 million in an off-market transaction. Transwestern represented the buyer, a private investor.
Located at 5455 Inglewood Blvd., the community is near the intersection of Interstate 405 and Freeway 90, nearly 16 miles from downtown Los Angeles. Additionally, Los Angeles International Airport is within four miles of the property. Positioned adjacent to Playa Vista, the property offers access to entertainment and technology centers including YouTube, Facebook, Microsoft, Yahoo!, IMAX and Google.
“The property presents an opportunity to take advantage of the particularly strong rent growth in the immediate area due to the continued tech company expansion into Playa Vista/Silicon Beach,” said John Swartz, senior vice president at Transwestern, in prepared remarks. “The proximity to both booming employment centers and new amenities are major contributing factors to increased multifamily investor interest in this area.”
Image courtesy of Transwestern