Larchmont Charter School purchased a Hollywood campus from Bolour Associates for $20.5 million, according to Los Angeles County records dated mid-April.
The real estate, which is on 6325, 6331-6363 Santa Monica Boulevard and 1115-1125 Lillian Way, includes buildings and land. The properties on Santa Monica Boulevard total about 39,000 square feet, per a Lee & Associates brochure, and the land that can be developed on Lillian Way spans about 20,000 square feet.
The deal comes out to roughly $350 per square foot and dodged Measure ULA — the so-called mansion tax which also applies to commercial properties — because of the buyer’s nonprofit status. The campus used to be home to the School of Los Angeles, which Bolour purchased the real estate from in 2024.
According to documents from the California School Finance Authority, Larchmont received $25 million in financing via tax-exempt and taxable charter school revenue bonds.
“Proceeds will be used to finance and/or refinance the cost of acquisition, construction, expansion, remodeling, renovation, improvement, furnishing and/or equipping of certain educational facilities located in Los Angeles,” the documents read. The debt matures four decades from now and has an around 6.5 percent interest rate.
Larchmont has four campuses throughout Los Angeles. This new campus, which will either be called the Santa Monica or Lillian campus, is anticipated to replace its Selma campus at 6611 Selma Avenue, per the bond financing documents. It is unclear why Larchmont is leaving its Selma campus. There was a homeless encampment at the entry years ago, but it was removed.
Bolour Associates has made multiple sales in the last year or so: a Mission Viejo office building for $24 million and an Hermosa Beach portfolio for $33.5 million after nixing a hotel redevelopment plan.
Larchmont Charter School and Bolour Associates did not immediately respond to requests for comment.
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