Los Angeles Los Angeles

Concord Capital Partners has purchased Casa Real, a 60-unit multifamily property located in West Hollywood. The property traded hands for $17 million, and the Harbor Group International has provided $3.25 million in preferred equity for the sale.

This was an opportunity to gain a foothold in a high-barrier to entry market with strong occupancy rates. To drive value, Concord Capital plans to implement a $2.6 million capital improvement program.

Casa Real is a four-story multifamily property constructed in 1930 and is designated as a Historic Landmark. The building is 42,644 square feet and features 37 studio and 23 one-bedroom apartments.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

Los Angeles
Multifamily
Capital Markets
West