May 18, 2018
Los angeles – Transwestern today announces it has brokered the sale of
5455 Inglewood Blvd., a recently delivered 13-unit multifamily development in Culver City and adjacent to Playa Vista. Senior Vice Presidents Josh Kaplan and John Swartz of Transwestern’s Los Angeles Multifamily Investment Services group represented the buyer, a private investor, in the off-market transaction valued at $8.3 million.
“The property presents an opportunity to take advantage of the particularly strong rent growth in the immediate area due to the continued tech company expansion into Playa Vista/Silicon Beach,” said Swartz. “The proximity to both booming employment centers and new amenities are major contributing factors to increased multifamily investor interest in this area.”
Home to YouTube, Facebook, Microsoft, Electronic Arts, Yahoo!, IMAX, Verizon Media, TMZ, Samsung, Belkin International, and Google, Silicon Beach has become the center of the entertainment and technology sectors in Los Angeles. In addition, Playa Vista’s “Agency Alley,” located along Jefferson Boulevard, has become the center of LA’s advertising ecosystem. The rapid expansion of the entertainment, technology and advertising sectors, as well as new world-class housing options and high-end retail amenities, have made Playa Vista one of the most attractive live-work-play submarkets and multifamily investment submarkets in the Los Angeles area.
Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Tenant Advisory, Capital Markets, Asset Services and Research, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Based in Houston, Transwestern has 35 U.S. offices and assists clients through more than 211 offices in 36 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern.