LOS ANGELES—The Vermont, a 464-unit luxurymultifamily complex in Koreatown, sold above theasking price, according to Jerry Snyder, presidentof J.H. Snyder Co. In an earlier story, GlobeSt.com reported that J.H. SnyderCo. sold the Koreatown mixed-use to a partnership betweenCapri Capital Partners and TruAmericaMultifamily for $283 million.

“We are very pleased with the sale,” Snyder tells GlobeSt.com.“We did much better than we thought we would do. We had quite a fewinterested people, and Capri and TruAmerica performed very well.”Snyder, unfortunately couldn't divulge details on the number ofoffers and original asking price. GlobeSt.com reached out to JLL,be didn't recieve a response prior to the publication of thisstory.

As reported earlier, the property is somewhat of a landmark andthe first luxury property built in the burgeoning Koreatownneighborhood. The interest from potential buyers illustratesinvestors' confidence and bullishness in the submarket. “A lot ofpeople thought I was crazy to build this FourSeasons-type building in Koreatown, but it was a dream ofours,” says Snyder. “It turned out very well and the leasing hasbeen amazing. We are getting lots of young graduate students fromUSC. We are have already leased about 110 units, and are averagingeight to 10 units per week.”