The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
May 21, 2019
 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?

Printer-friendly Version   Email an Associate
Phoenix Group Pays $45 Mil for Hollywood Res Complex


Vue Hollywood, a 92-unit, non-rent-controlled apartment building in Hollywood, sold for $45 mil, or about $489k/unit. The buyer was Phoenix Group.

Vue Hollywood is located just off Sunset Blvd, a few blocks from the eastern edge of West Hollywood and a short walk from Hollywood Blvd. The Hollywood/Highland Metro Red Line is less than a mile away. Nearby employers include Netflix, Capitol Records, Technicolor and Ticketmaster, among many others.

Built in 1987, the property has received significant exterior, common area, and apartment interior improvements since 2015. Most of the units are two-bedrooms and floorplans average 966 sf in size.

Kevin Green, Greg Harris and Joseph Grabiec with Institutional Property Advisors represented the seller, a private multifamily investment firm, and procured the buyer in the deal.

“Hollywood has become the fastest-growing employment market in Southern California and the abundance of high-paying jobs created by entertainment, media, and technology companies is bolstering the strength of the rental market,” said Green. “Vue Hollywood is particularly well suited to benefit from the area’s economic growth as there are thousands of new jobs within walking distance.”

“Previous ownership renovated 74 unit interiors to the highest-quality standard, leaving the opportunity for new ownership to capture significant revenue upside by upgrading the remaining units and capitalizing on the demand for high-end housing,” added Grabiec.

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 © 2019 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media