DWS Group pays $100M for WeHo resi complex

The 166-unit Domain WeHo, among the biggest apartment buildings in the area, was developed by Trammell Crow Residential

Sep.September 09, 2019 01:00 PM
Barings Head of Alternative Investments Anthony Sciacca, and DWS Head of Americas Bob Kendall (Credit: Google Maps)
Barings Head of Alternative Investments Anthony Sciacca, and DWS Head of Americas Bob Kendall (Credit: Google Maps)

UPDATED, Sept. 9, 2:30p.m.: DWS Group bought one of the larger apartment complexes in West Hollywood.

DWS paid $103 million for the 166-unit Domain WeHo at 7141 Santa Monica Boulevard, property records show. DWS formed in March 2018, a spinoff of Deutsche Asset & Wealth Management, the company said.

The seller was Barings. DWS confirmed the sale. Barings could not be reached for comment.

Trammell Crow Residential built the six-story complex on land it purchased in 2013 for $13.6 million, and completed construction in 2017.

Units are in studio, one-bedroom, and two-bedroom configurations ranging from just under 600 square feet to nearly 1,300 square feet. Amenities include a gym, pool and spa, outdoor kitchens with grills and dining space, and other communal space on the upper floors.

Charlotte, North Carolina-based Barings, the investment management wing of Massachusetts Mutual Life Insurance Company, is active in the Los Angeles area, but lately has been selling off some of its industrial holdings. Barings sold a San Fernando Valley industrial park to Rexford Industrial in May for $118 million.

Last year, it sold off an industrial property in Chinatown for $14.6 million and another industrial site in Vernon for $58 million.

Correction: A previous version cited the buyer as Deutsche Asset & Wealth Management.

Related Article

The top sales of last week were all on the Westside

Here are the 5 priciest resi sales in LA County last week

A rendering of Del Rey Pointe and a map of the project site (credit: LADCP)

To reach the tech giants in Playa Vista, apartment developer wants to build a bridge

Richard Bloom and a rendering of Lowell Farms Cannabis Cafe (Credit: Lowell Farms, iStock)

Cannabis lounges bloom in WeHo, and not everyone is happy

Jason Illouian and the property (Credit: Faring Capital and Google Maps)

Faring advances plan for 271K sf cancer center where it had eyed boutique hotel

The 2017 LA Pride march in West Hollywood and West Palm Springs (Credit: United Food and Commercial Workers)

The “gayborhood premium:” A look at home prices in LGBTQ-centric areas

Sterling Organization CEO Brian Kosoy and the two Melrose Avenue properties

Sterling Organization buys retail portfolio along booming Melrose Avenue

WS Communities Development Manager Taylor Glieden and a rendering of the 501

WS Communities targets Santa Monica with plans for 4th resi development

Strategic Legacy Vice President Michael Sabet and a rendering of 11410 W. Burbank Boulevard

Residential development is heating up in North Hollywood; here comes one more project