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.
Categories
Recent Posts
Newsom signs bill to limit low-density building in Altadena
Blackstone unloads Huntington Beach retail center a year after buying
“Girl at Home”: Taylor Swift’s former Beverly Hills manse comes to market
Jackson Pollock’s Onetime West Village Loft Lists for Nearly $2 Million
Peter Thiel buys troubled Bel-Air mega-mansion for $130 million
Publisher Benedikt Taschen Lists a Fully Restored 1950s Beverly Hills Home for $25 Million
Goldman Sachs buys loan on Slatkin brothers’ luxe Santa Monica hotels after $280M sent to special
What Are the Seating Rules for a Formal Dinner?
Industrious grows on Westside again with lease in LA’s Playa Vista
Michael B. Jordan’s Former Hollywood Hills Home Hits the Market for $14 Million
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
26895 Aliso Creek Rd, B-603, Aliso Viejo, California 92656, USA