Commercial real estate news and analysis for the Los Angeles market.
A joint venture between former Miami Heat star Alonzo Mourning and Housing Trust Group has secured significant financing to move forward with a 96-unit affordable community for seniors in Hollywood, Florida.
Los Angeles-based investment manager TruAmerica Multifamily has successfully closed a $708 million fund dedicated to acquiring and enhancing Class B apartment communities across major U.S. markets. The vehicle aims to address the shortage of affordable rentals through purely private capital, avoiding government subsidy programs.
In a significant move within the Los Angeles multifamily sector, TruAmerica Multifamily has acquired a 60-unit luxury apartment community in Brentwood for $49.4 million. The transaction, brokered and financed by Institutional Property Advisors, highlights continued investor appetite for high-quality assets in prime Westside submarkets.
Major commercial real estate firms promote their comprehensive service offerings as a competitive advantage, but industry observers are increasingly questioning whether this model truly serves client interests or creates inherent conflicts.
Fortress Investment Group provided a $96 million refinancing for Cityview's Jasper apartment building in Downtown Los Angeles, a 296-unit property that opened in 2023 amid a wave of new multifamily deliveries.
Wellpointe Inc. acquired 6400 Canoga Avenue in Woodland Hills from Sandstone Properties, pivoting the site from a planned luxury tower and hotel to a multi-phase, 100% affordable mixed-use development.
From the 83-acre Westminster Mall redevelopment to Warner Center's affordable housing transformation, developers across Los Angeles are converting underperforming retail into mixed-use communities.