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June 15, 2019
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Realm Group Acquires DTLA Site for Res Tower Project

6/10/19

Realm Group LLC purchased a 1.5-acre site located in Downtown Los Angeles at 675 South Bixel St. Realm, a joint venture between Realm Real Estate LLC and The Bascom Group LLC, entitled the site for the development of a 36-story, 422-unit mixed-use high-rise multifamily building.

The planned tower will be of international modern, concrete, steel and glass with a loft-style design. It will feature a rooftop sky lounge providing striking views of the city’s skyline along with an expansive 40k sf amenity deck on the 5th floor with an inviting pool terrace, market leading amenities including a spacious dog park, making it one of the largest amenity decks in Downtown Los Angeles.

The project is located within walking distance to a robust variety of employment, transportation, retail, restaurant/bar and grocery options. Grocery Outlet, Whole Foods, Target, Teragram Ballroom and Starbucks are a few of the notable nearby retailers. The well-located project boasts a Transit Score of 100 and a Walk Score of 95.

HFF’s Charles Halladay, Jamie Kline, Nicholas Lench and Samuel Godfrey facilitated the land financing. Starwood Property Trust provided the debt financing for the land purchase.

Bixel Tower represents Realm Group’s second high-rise development project in Downtown Los Angeles. Realm’s original high-rise development project is located in the Fashion District and is designated as an Opportunity Zone. The Fashion District Tower will consist of a 33-story, 452-unit mixed-use multifamily community. Realm Group entitled the project and subsequently closed on the land in July 2018 with plans to commence construction in 2020.





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