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New Downtown Apartment Build Comes to Market

LOS ANGELES—In this <EXCLUSIVE story, GlobeSt.com reports that Wood Partners decides to sell its newly built 209-unit luxury apartment complex in the South Park neighborhood of downtown.

By Kelsi Maree Borland | Updated on September 23, 2014

LOS ANGELES—Wood Partners is bringing 8th+Hope, its newly built 22-story, 290-unit multifamily property in the South Park neighborhood of Downtown Los Angeles, to market, GlobeSt.com reports exclusively. Officially opened on August 1 of this year after two years of construction, the luxury building is one of the first post-recession developments to come online in Downtown Los Angeles.

“This is an opportune time to market a class-A residential tower in Downtown Los Angeles, due to tremendous investor interest in the market from both domestic and international players,” Curtis Palmer, EVP at CBRE, tells GlobeSt.com. “8th+Hope is perfectly positioned next to the Bloc, near the 7th Street metro hub, and the 3 grocery stores in South Park including Ralphs Fresh Fare, the soon-to-be-delivered Whole Foods at 8th and Grand and the Trader Joe’s coming to the Bloc. 8th+Hope is ideally situated in terms of location and product to captures the burgeoning demand for luxury high-rise rental product.”

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