Iconic Hollywood Building Site Makes Way for Apartment Units
For more than a decade, the Hollywood Bread Building at 1770 S. Young Circle sat vacant, once a revered structure in Hollywood. BTI Partners bought the property, demolished the aging building and replaced it with 362 residences and 15,407 square feet of ground-floor retail. The newly opened structure is fully leased.
BTI Partners and partner Bridge Investment Group acquired the property in June 2021 for $11 million. A year later, the partners secured $83 million in financing from Canadian Imperial Bank of Commerce to begin construction.
Walgreens will be the building’s first ground-floor retailer. Amenities include a rooftop deck with a pool, Jacuzzi and cabanas; a fitness center; a business center; and co-working spaces overlooking ArtsPark.
Other News
Affinius Capital Originates $130M Construction Loan for Chicago MF Development
Affinius Capital has originated a $130.4 million construction loan to finance 1000 W. Jackson, a multifamily development located in Chicago’s West Loop submarket. The 25-story development will feature 380 units and more than 21,500 square feet of ground-floor commercial space, pre-leased to ALDI, Inc. The loan was made to a joint venture between Mavrek Development,...
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Endura Starts Work on 324-Unit Boerne Apartment Community
Endura Advisory Group broke ground on The Oaks of Cibolo Creek, a 324 unit apartment complex in Boerne, Texas. The project will sit on 20 acres about 2.5 miles from the downtown area. Designed by Dallas-based UD Architects, with Franklin Construction, Ltd. as the contractor, the property will feature units averaging 918 square feet, with select...
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Sares Regis Trades Henderson Rental Asset for $41M
Authentic Capital Group acquired Miro at the Parc, a 164-unit multifamily community located at 1651 American Pacific Dr in Henderson, NV, in a $41 million transaction. Newmark’s Jonathan Merhaut and Curt Allsop arranged the sale on behalf of seller, Sares Regis Multifamily Investment Management. Newmark’s Lee Redmond and Alec Newman arranged the $24.75 million financing on behalf of Authentic...
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Brokers
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Remax Professionals
Re/Max Real Estate Professionals | New York
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
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