Los Angeles

The affordable and workforce housing leader originally targeted $550 million for its fourth discretionary fund.

Capital has sat on the sidelines through the uncertainty of 2020, but this year, investors will re-enter the market.

Located near USC, the apartment seven-story property will feature 296 units and 5,000 square feet of retail space.

In 2020, Los Angeles office leasing totaled only 10 million square feet, driving the vacancy rate to 22.5%.

There are several new employment laws that went into effect at the start of the year, including the expansion of the California Family Rights Act and AB 2257.

"The beginnings of a transaction recovery are forming," says Marcus & Millichap's John Chang in a new research report.

As businesses reopen and eviction moratoriums expire, the value-add investment model will rebound.

Rents have steadily decreased throughout the pandemic, but the rate of decline is slowing.