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 Articles

Thomas Bannon

CA landlord association head expresses grave concern over COVID-19 fallout

Mayor of Los Angeles Eric Garcetti (Credit: Emily Shur/Wikipedia, and iStock)

Landlords may not remove rent-stabilized tenants for condo conversions: Garcetti

California Apartment Association CEO Thomas K. Bannon

California landlord group calls on members to freeze rents and evictions

From left: Michael Shabani, James Randall, and 8840 Beverly Boulevard (Credit: Getty Images)

Investor James Randall pays $36M for WeHo furniture showroom

Jason Illoulian and the Cemex plant

Faring makes $30M assemblage play on WeHo/LA border

Carlyle Group co-CEO Kewsong Lee, Holland Partner Group CEO Clyde Holland, and the Sofia Los Angeles (credit: North American Sekisui House, LLC)

Carlyle Group pays $273M for big apartment complex in Westlake

29th Street Capital founder Stan Beraznik, Jason de Guzman, the firm’s senior vice president for acquisitions for L.A., and the three buildings at 131, 143, and 171 S. Burlington Avenue

Westlake apartment portfolio sells a year after tenants battled landlord over rent hike

The top sales of last week were all on the Westside

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