Institutional Property Advisors Brokers $92.5 Million Multifamily Sale in L.A.’s NoHo Arts District
Marcus & Millichap, Inc. (MMI)
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Source: Business Wire
LOS ANGELES--(BUSINESS WIRE)--Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE:MMI), announced today the sale of The Lofts at Noho Commons, a 292-unit multifamily property in the NoHo Arts District of Los Angeles, California. The asset traded for $92.5 million, or $316,781 per unit.“The property’s proximity to major employers including CBS Studio Center, Universal Studios, Walt Disney Studios, and Warner Bros. Studios enhances its appeal to entertainment professionals,” said Joseph Grabiec, IPA executive managing director. Grabiec and IPA’s Kevin Green and Gregory Harris represented the seller, a joint venture partnership, and procured the buyer, The GPI Companies.Lofts at NoHo Commons is located within walking distance of popular dining, entertainment, and nightlife destinations along Lankershim Boulevard. It offers easy access to major thoroughfares like the Hollywood Freeway, U.S. Highway 101, Ventura Freeway, and Interstate 5.Constructed in 2006, T
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MMI
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- 11/8/24 - Form 10-Q
- 11/8/24 - Form 8-K
- 10/15/24 - Form SC
- MMI's page on the SEC website