Essex Property Trust’s Hollywood resi complex takes shape

The REIT has remained most active in LA and San Francisco Bay Area

TRD LOS ANGELES /
Apr.April 02, 2019 10:00 AM
Essex Property Trust Michael Schall and a rendering of Essex Hollywood

Essex Property Trust remains active in Los Angeles, with several recent trades and residential construction projects downtown. The latest is a 200-unit apartment complex going up in Hollywood.

The real estate investment trust has put down the seven-story complex’s multi-level concrete base and is now building up, according to Urbanize. The $54 million project at 6240 Sunset Boulevard will replace an existing parking lot.

When completed, the Essex Hollywood will include 4,700 square feet of ground floor retail space, a gym, swimming pool, and a roofdeck. Essex broke ground in fall 2017.

The site is not far from the Jefferson at Hollywood, a 270-unit apartment and retail complex that Essex sold for $132.5 million in early 2017.

Based out of San Mateo and active across California, Essex continues to make Los Angeles and the San Francisco Bay Area its two largest markets. In January, it sold its 290-unit 8th and Hope apartment complex in Downtown for $220 million. The $758,600-per-unit sale ranks among the priciest sales in Downtown L.A. by that metric.

The buyer was local real estate develop Bin Feng Cheng.

Essex is also building in Downtown. Last July, the firm filed for a 22,000-square-foot food hall at one of its apartment buildings, the Santee Court Apartments. [Urbanize]Dennis Lynch 


Related Articles

arrow_forward_ios
Architect Simon Park and a rendering of the project (Credit: SSPSTUDIO ARCHITECTURE & URBAN DESIGN)

Boyle Heights slated for another mixed-use project

Monica Rodriguez orchestrated the nixing of a residential project set for the Verdugo Hills Golf Course (Credit: Google Maps, Wikipedia)

The threat of fire doomed this Tujunga resi project. Now the developer will sue

6550 South Normandie Avenue (Credit: Google Maps)

Haroni Investments to turn parking lot into new apartments

Michaekl Rapino of LiveNation, Richard LeFrak, and 7060 Hollywood Boulevard

Live Nation’s Hollywood exit leaves big hole for LeFrak

Council President Herb Wesson and a rendering of District Square

City will draw up “anti-displacement zone” ordinance

David Ryu with a Little Tokyo Galleria rendering

Under the (RE)influence: Councilman’s campaign funds scrutinized

The North Hollywood and Topanga stores (Credit: Vallarta Supermarkets)

Vallarta Supermarkets plans huge grocery store in Van Nuys

Governor Gavin Newsom and Senator Nancy Skinner (Credit: Getty Images and iStock)

Developers rejoice: Newest state law aims to boost housing production

arrow_forward_ios
Loading...