MWest Continues Its Eastside Love Affair

LOS ANGELES—MWest Holdings has purchased Emerald Terrace, a 302-unit apartment complex between Silverlake and Koreatown on the eastside of Los Angeles, from Fairfield Residential. This is one of several purchases that MWest has made this year on the eastside of Los Angeles, and, in line with its other investments, it plans to execute a value-add strategy on the circa 1970′s property. The sales price of the purchase was not disclosed.

“We are really excited about the neighborhood and about everything that is happening in Koreatown and Silverlake. This is a great bridge between the two,” Karl Slovin, president of MWest Holdings, tells GlobeSt.com. “We think it is fantastic what Kennedy Wilson has done across the street with the Chadwick, and we find that inspiring. We are pretty excited about this project. The Koreatown, east corridor is really a vibrant neighborhood, and we have done quite a bit of investing in that area over the last six months.”