HOLLYWOOD-An affiliate of West Los Angeles-based Champion Real Estate Co. has acquired a five-building, mixed-use complex on a 2.76-acre site that is planned as part of a transit-oriented development featuring retail, restaurants and luxury apartments. The property sold for $20 million in an all-cash transaction, according to receiver Taylor B. Grant, who heads Newport Beach, CA-based California Real Estate Receiverships. CalRER handled the sale on behalf of the lender, US Bank.

Champion plans to entitle and build a $100 million transit oriented, mixed use project featuring retail, restaurants and luxury apartments. The developer estimates that securing entitlements will take about a year. The property―which consists of three small office buildings, two multifamily structures and three parking lots―is bounded by Highland, Hawthorne and Selma avenues, and McCadden Place.

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