November 16, 2017
Los angeles – Transwestern today announces it has brokered the sale of 236 S. Bonnie Brae St., a 65-unit multifamily building in the Westlake/MacArthur Park neighborhood of Los Angeles. Winstar Properties, Inc. acquired the asset for $15.6 million. Senior Vice Presidents Josh Kaplan and John Swartz of Transwestern’s Los Angeles Multifamily Investment Services group represented the seller, a private investor, and the buyer in the off-market transaction.
“With apartment pricing continuing to increase in Koreatown, Silver Lake/Echo Park and East Hollywood, the Westlake/MacArthur Park area continues to mature into a popular, less expensive alternative for investors,” said Kaplan.“The proximity to Downtown Los Angeles and easy access to major freeways are also contributing factors to increased multifamily investor interest in this area.”
236 S. Bonnie Brae St. is the second-largest apartment building in terms of number of units to trade this year in Westlake/MacArthur Park.
Transwestern is a privately held real estate firm of collaborative entrepreneurs whodeliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Tenant Advisory, Capital Markets, Asset Management 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 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern. For updates from the West region, follow @TranswesternWST.