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M West Snags Guardian Arms

LOS ANGELES-The iconic seven-story former hotel, known as the New Hollywood Apartments, consists of 101 multifamily units and approximately 9,000 square feet of ground-floor retail space.

By Carrie Rossenfeld | Updated on March 07, 2013

LOS ANGELES-M West Holdings has purchased the history-rich Guardian Arms complex, a former hotel-turned-multifamily community now known as the New Hollywood Apartments, from a seller whose identity was not disclosed to GlobeSt.com. The asset, which consists of 101 apartment units and approximately 9,000 square feet of ground-floor retail space, sold for $14 million, GlobeSt.com has learned.

The vintage property, M West’s ninth major acquisition in Southern California, is situated on Hollywood Blvd. in East Hollywood, a historic neighborhood currently experiencing a rapid renaissance, and is bordered by Central Hollywood and Los Feliz. According to M West’s SVP Matthew Ellis, “This dense infill location currently benefits from over $3 billion in new, planned or recently completed developments, and we are thrilled to become active participants in the further development of this astonishing community.”

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