BLDG Partners acquires 52 live-work units in Studio City

The complex is used mostly for business purposes

TRD LOS ANGELES /
Mar.March 27, 2018 10:15 AM
Interior photos from Universal Lofts

Developer BLDG Partners paid $39 million to acquire the remaining 52 live-work units at the Universal Lofts complex in Studio City, The Real Deal has learned.

AMI Real Estate built the 67-unit development in 2009, and has sold 15 units since opening. It’s been predominantly leasing the other units since.

Located across the street from the Universal Studios at 3450 Cahuenga Boulevard, the contemporary complex spans 12 mid-rise buildings with four to seven units per building. It has dual zoning for both live and work purposes, though most of the tenants use the townhomes for business purposes.

Rents for the units are around $5,000 per month for roughly 2,000 square feet of space.

Andrew Levant of Kennedy Wilson represented the buyer. Ilan Moshe at AMI represented the seller in-house.

BLDG Partners is wrapping up construction on the Seven, a collection of small-lot townhouses located near the Hancock Park neighborhood. The three- and four-bedroom homes average around 2,200 square feet, and are priced between $1.7 million and $2 million.


Related Articles

arrow_forward_ios
Jamison Services' Jamie Lee

Jamison signs post-production firm to long-term lease at Studio City office

Malibu Real Estate Investments principals Bedros Oruncakiel and Kirkor Suri

Malibu spec mansion lists amid softening luxury market

Chandler Parsons and his property on Stone Canyon Road (Credit: Getty Images)

Durant wants out of Malibu, and now Chandler Parsons is listing his Bel Air mansion

CoreLogic's Andrew LePage and Orange County (Credit: Wikipedia)

SoCal housing market shows signs of life, with a caveat: report

Bridge Housing CEO Cynthia Parker and a rendering of the view from Walnut and Anaheim (Credit: SVA Architects)

Fully affordable complex set to rise in vacant Long Beach lot

Tracy Tutor and her Brentwood home

Tracy Tutor of “Million Dollar Listing ” asking a lot more for Brentwood home

Anton Lessine and 321 South Bristol Avenue, and Behati Prinsloo and Adam Levine with their home (Credit: Getty Images and Zillow)

This week in celeb real estate: Adam Levine unloads $45M home, a Hollywood film producer sells in Brentwood…and more

Anton Lessine and 321 South Bristol Avenue (Credit: Getty Images)

Hollywood producer Anton Lessine sells Brentwood Park mansion for $17M

arrow_forward_ios