CGI Strategies has sold Kodo, a 60-unit, 48,089-square-foot apartment building in Koreatown, to Alhambra Place Partnership for $30 million. CGI developed the property in 2018.

Kodo has a mix of studio, one- and two-bedrooms units. The complex features a common area, courtyard, fitness center and a rooftop lounge with views of the Downtown Los Angeles skyline. The property was transitioning through lease-up during the marketing process—approximately half the units were leased as short-term, furnished rentals at time of sale.

Laurie Lustig-Bower and Kamran Paydar represented the seller in the deal. The buyer, Alhambra Place Partnership, was represented by an outside broker.

 

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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.