The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
July 6, 2020
 Search RENTV
 Video Programs
News Home Page
Southern California
Northern California
Pacific Northwest
Prop. Management
Press Releases
 R. E. Marketplace
Service Providers
Property Spotlight
 RENTV  Conferences
Subscriber Login:
Forgot Password?

ETC... ETC...
Printer-friendly Version   Email an Associate
Apartment Portfolio in Los Angeles’ Westlake/MacArthur Park District Sells in $48 Mil Deal


A three-property apartment portfolio comprised of 192 multifamily units in L.A.’s Westlake/MacArthur Park submarket, traded hands in a $48.25 mil ($251.3k/unit) deal. We’re told the transaction is one of the five largest deals completed in the submarket since 2010.

The transaction was financed with a $36.95 mil bridge loan arranged by George Smith Partners. The loan is structured as $33 mil at closing, $825k in interest reserve, and $3.136 mil in holdbacks for capital expenditures. The fully funded loan represents 72.5% of the project capitalization.

The portfolio is made up of properties located at 131, 143 and 171 S. Burlington Ave, between Beverly Boulevard and Third St in the Westlake district of Los Angeles. The up-and-coming district sits west of Downtown Los Angeles, south of Historic Filipinotown and east of Koreatown. With an estimated 45,000 residents in just 2.72 square miles, Westlake is the second-highest density district in Los Angeles after Koreatown, and it will continue to see strong tenant demand for rentals for the foreseeable future.

Josh Kaplan and John Swartz of Transwestern Commercial Services’ Multifamily Investment Services group represented the seller, a private investor, in the transaction. Kaplan noted that this sale shows that despite the concern over rent control legislation, there is still very high investment demand for multifamily properties in the Westlake/MacArthur Park area of Los Angeles.

Return to the Archive page




Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2020 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media