DT Flat Apartments Trades Hands

LOS ANGELES—The unnamed buyer of this 205-unit apartment building in Downtown Los Angeles plans to reposition the property to include more onsite amenities, GlobeSt.com reports EXCLUSIVELY.

By Kelsi Maree Borland | Updated on October 03, 2014

LOS ANGELES—GlobeSt.com has learned exclusively through industry sources that the Flat Apartments complex in Downtown Los Angeles has traded hands. The buyer is an investor operating under the LLC WK Flat LA Adventure. The seller in the transaction and the price were not disclosed.

“This was a rare opportunity for this buyer to acquire a large number of units in a prime downtown location that is continuously evolving as we speak,” Michael Balson of Keller Williams, who represented both the buyer and the seller in the transaction, tells GlobeSt.com. “I believe the Buyers intend to reposition the asset by adding value through renovations, improvements, and additional amenities and services, enhancing the living experience at the property.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

Unlimited access to GlobeSt and other free ALM publications
Access to 15 years of GlobeSt archives
Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
1 free article* every 30 days across the ALM subscription network
Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account? Sign In Now

NOT FOR REPRINT

© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper

Recommended Stories

Negotiations Between WeWork and Its Landlords Get Tense

Erik Sherman | November 28, 2023

Landlords push back against the forced negotiation powers a company in bankruptcy has.

There Are Some Good CRE Opportunities Looking Ahead

Erik Sherman | November 28, 2023

But they’ll require some analysis to find which segments and areas might offer the best predicted opportunities.

Rental Housing’s Key Trends Heading Into 2024

Bob Pinnegar | November 27, 2023

There are a number of trends that bear watching for the upcoming year.

Resource Center

HVAC use accounts for 50% of the total energy consumption of your commercial office buildings. Why wouldn’t you optimize its efficiency? Download this white paper and learn how you can slash costs, enhance tenant satisfaction, and boost sustainability.

Report

Sponsored by Building Engines

The ROI of HVAC Optimization in Commercial Office Buildings

HVAC use accounts for 50% of the total energy consumption of your commercial office buildings. Why wouldn’t you optimize its efficiency? Download this white paper and learn how you can slash costs, enhance tenant satisfaction, and boost sustainability.

Browse More Resources ›

This white paper delves into the alarming surge in renter fraud within the multifamily housing sector. Discover the various drivers behind these trends and how you can stay ahead of the evolving fraud landscape.

White Paper

Sponsored by TheGuarantors

Addressing the Surge of Renter Fraud in Multifamily Housing

This white paper delves into the alarming surge in renter fraud within the multifamily housing sector. Discover the various drivers behind these trends and how you can stay ahead of the evolving fraud landscape.

Browse More Resources ›

What are your goals as an asset or property manager? This interactive tour walks you through customizing your own platform to help meet your goals such as maximizing revenue, optimizing operations, adding value to your properties, and attracting the right tenants.

Interactive Resource Center

Sponsored by Building Engines

How Prism helps CRE Managers Exceed Goals

What are your goals as an asset or property manager? This interactive tour walks you through customizing your own platform to help meet your goals such as maximizing revenue, optimizing operations, adding value to your properties, and attracting the right tenants.

Browse More Resources ›

GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
Exclusive discounts on ALM and GlobeSt events.
Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now

Copyright © 2023 ALM Global, LLC. All Rights Reserved.