One Santa Fe One Santa Fe officially opened in February 2015.

LOS ANGELES—The Berkshire Group is planning to renovate One Santa Fe, a 434-unit apartment complex in the Arts District of Downtown Los Angeles. In an earlier story, reported that the Berkshire Group purchased the property from a joint venture that included Canyon Capital for $200 million, according to industry sources. The investor’s renovation plans come as a surprise, considering the property is new construction and opened in early 2015 to major success.

“Berkshire has a lot of capital improvements planned for both the residential and retail spaces that will improve the overall user experience for its tenants and the surrounding neighborhood,” Eric Schrumpf, SVP of multifamily acquisitions for the Berkshire Group, tells “We want the property to blend in with and remain true to the original nature of the Arts District.” Although the property leased up quickly, there has been some criticism that the architecture and design of the property was incongruent with the surrounding market and culture.

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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 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.

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