Faulkner Capital Acquires Hollywood Luxury Apartments
Colliers arranged the sale of The Baxter, a newly constructed, mid-rise luxury apartment community located at 1818 N. Cherokee Ave. at the base of the Hollywood Hills. Vice chair Kitty Wallace represented all parties, including three undisclosed sellers and the buyer, Faulkner Capital Partners.
Although the sale price was not disclosed, the 85,775-square-foot property traded at more than $400 per square foot, or roughly $35 million. Colliers noted that the sale occurred within a highly selective capital markets environment, where investors remain disciplined and underwriting assumptions have reset.
“We’re seeing capital become more selective, but it remains active for deals that are well‑priced and thoughtfully structured,” said Wallace. “Transactions that offer transparency, realistic assumptions, and a clear execution path are still moving forward. This deal reflects how liquidity is prioritizing certainty and disciplined underwriting in today’s environment, particularly in established urban markets where basis and long-term fundamentals are compelling.”
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout