Rockpoint grabs Westwood apartments as local market faces supply stress
Rockpoint is adding a nearly 100-unit apartment community in Westwood to its nationwide multifamily portfolio. The Boston-based private equity firm acquired Wilshire Margot, a 97-unit mid-rise property at 10599 Wilshire Boulevard, from NMS Residential, L.A. Business First reported. Terms of the deal were not disclosed, though the property is valued at $61.5 million, according to Los Angeles County assessor’s office records cited by L.A. Business First. Rockpoint plans to pursue a repositioning strategy at the site, Rockpoint co-CEO Aric Shalev said in a statement, noting West Los Angeles is “one of the most supply-constrained multifamily markets in the country” with […]This article originally appeared on The Real Deal. Click here to read the full story.
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