LOS ANGELES-Esprit, a 437-unit multifamily apartment and 227-slip anchorage facility in Marina del Rey, has had 100% of its leasehold acquired for $225 million in a half-cash, half-financed, off-market deal.
Capri Capital Partners, acting on behalf of an undisclosed institutional investor, and Kennedy Wilson teamed up for the acquisition. The five-building apartment complex includes a mix of studios and one, two, three and four-bedroom units available for an average monthly apartment rental of $3,536, or $2.90 per square foot. The property was formerly owned by Esprit One LLC, a partnership owned and controlled by former L.A. City Council person Cindy Miscikowski.
All apartments feature water views, in-unit washer and dryer, nine-foot vaulted ceilings and private patios. The units are mostly split-level townhouse layouts with walk-in closets and stainless steel kitchen appliances. A pedestrian promenade runs alongside the waterfront directly in front of the apartment complex.
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