Concord Capital Partners acquire historic West Hollywood property for $17.275 million
The four-story, 43,000-square-foot multifamily property is situated at 1354 N. Harper Avenue, one block south of the popular Sunset Strip. Its arched gateways, elaborate ironwork and embellishing coated tiles are examples of the particular components associated with the Mediterranean Revival prominent in Los Angeles during the 1930’s.
Casa Real was initially worked as a feature of the popular Chateau Marmont Hotel and was utilized to house hotel staff and give extra lodging to visitors when the primary hotel was filled. In 1996, Casa Real was assigned as a Historic Landmark and set on the Local Register of Historic Properties by the City of West Hollywood.
“We keep on searching for well-located resources with an interesting story to tell,” said Concord CEO Reuben Robin. “Casa Real is a gem from the city’s past which we’ve been allowed the chance to reestablish to its past eminence. While the seller has been a good steward of the property, Casa Real can benefit by both expert administration and attentive renovation.”
The 60-unit building highlights a blend of studio and one-bedroom homes. Concord will implement a multi-million dollar capital improvement plan that will incorporate, tending to maintenance issues, revamping unit interiors with top of the line finishes as leases roll, and reestablishing the outside to feature its vintage legacy.
“Our vision is to have Casa Real surpass the standard of the present discerning renters, while staying true with the property’s rich design trustworthiness and memorable appeal.”
About Concord Capital Partners
Concord Capital Partners is a real estate investment and development firm founded by Reuben Robin. Our unique ability to holistically service, capitalize, and manage assets has been the key to our success in significantly growing client investments. Since 2006, CCP has acquired over 1 Billion in real estate including over 500,000+ sq. ft. of commercial space and over 3,500+ of residential and student housing units throughout the United States. CCP draws on decades of combined experience to identify and acquire unique investments and ground up development opportunities that maximize returns. From creative debt and equity structures to in-depth expense budgeting to overall asset enhancement and development; CCP does what it takes to amplify future market values. Our flexibility, creativity and resourcefulness make us a leader in the market.