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Crenshaw Village Deal Resurges Market

LOS ANGELES-Steve Bram of George Smith Partners tells GlobeSt.com how the recent $60-million acquisition of the Crenshaw Village portfolio is bringing new institutional investor attention to Baldwin Hills in this UPDATE to a previous story.

By Kelsi Maree Borland | Updated on October 03, 2013

LOS ANGELES-The scope of the recent $60-million acquisition of the Crenshaw Village multifamily portfolio has drawn institutional investor attention back to the Baldwin Hills submarket, according to Steve Bram, principal and managing director at George Smith Partners. Bram sat down with GlobeSt.com to discuss the submarket and the financing structure of the deal, in this update to a previous story.

“Institutional investors for the most part were unaware of the dynamic in the Baldwin Hills market, and as a result, of this widely circulated offer, many more investors have become aware of the area,” says Bram. “Bid prices for other assets in the Baldwin Hills area have increased over 15% in the last two months, and I believe it is the result of the purchase of the Crenshaw Village property.”

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