Trion Secures Land for Mid-Wilshire Apartment Project

Trion Properties has partnered with the Ketter Group to build a new apartment property in Mid-Wilshire. Trion has a acquired a land site for an apartment development in the Mid-Wilshire neighborhood of Los Angeles for $7.4 million.

The land site is already entitled for 45 units, but Trion plans to re-entitle the property for a 58-unit apartment complex.  The property will take approximately 16 months to entitle and 24 months to develop. From there, Trion and Ketter plan to hold the cash-flowing asset for at least one year, then reevaluate based on current market conditions and investment strategy.

Trio and Ketter are currently developing a 45-unit property on the same block. It acquired the land for that acquisition in January.