From the Wires
M West Holdings Announces The Acquisition Of Apartment Community Near Prestigious Hollywood Bowl Submarket
By: PR Newswire
Dec. 18, 2012 01:52 PM
LOS ANGELES, Dec. 18, 2012 /PRNewswire/ -- M West Holdings, a leading private real estate investment company, announces the acquisition of 2104 N. Cahuenga Blvd, Hollywood. Constructed in 1990, the building consists of twenty-one units totaling 26,273 SQFT. The property which will be rebranded "Cahuenga Heights," is located in central Hollywood, just north of Franklin Avenue and east of Highland Avenue offers convenient freeway and public transportation access and views of the Hollywood Hills. Situated within walking distance from the Hollywood Bowl, Restaurants, Shopping and Nightlife, the luxury apartment complex features the best of Hollywood living. "This closing represents the firm's 8th major acquisition in less than three years and speaks to M West's continued commitment in Southern California," said Karl Slovin, President of M West Holdings.
Designed by Jerzy Bendarzewski, a prominent local architect well-known for his work in both the US and Europe, the two-bedroom, two-bathroom suite-style apartments consist of open, modern floor-plans that were quite unique for the decade and remain contemporary today. The building also includes forty-three subterranean parking spaces for its residents.
"In addition to the ample parking and modern floor-plans, the building has many additional amenities that caught M West's attention," said Slovin. "Each unit contains a large patio that provides residents with striking views of the surrounding Hollywood Hills and mountains, and the building itself is situated in the middle of Hollywood." Located less than five minutes from the 101 freeway, a valuable asset for daily commuters, residents are also close to the Hollywood Bowl and the historical Mann Theater, as well as many popular restaurants and bars in both Hollywood and West Hollywood. "We're proud to be a part of this vibrant community in central Hollywood," Slovin said.
M West plans to renovate the unit interiors, increasing the lush amenities the building has to offer and improving the overall aesthetic appeal. With the M West portfolio growing rapidly in the Los Angeles market, this building is a perfect addition. Slovin added, "The acquisition of Cahuenga Heights represents the firm's ongoing commitment to expanding our portfolio with strategically-located well-designed and highly-functional multi-family investments that cater to the needs of the local tenant base. Because of the submarket's increasing demand for high-quality amenity-rich assets, we anticipate that this asset will generate favorable returns for M West."
M West is a vertically integrated investment holding company which has been investing in commercial real estate since 1991. M West benefits from a management team that consists of seasoned professionals with broad backgrounds in all facets of commercial real estate investment. M West focuses on Core-Plus and Value-Add multi-family opportunities in pre-defined markets where M West has a competitive advantage. Specifically, M West acquires, renovates, leases, and manages real estate property in Southern California and New York City to provide Limited Partners with outstanding cash flow and long term performance.
SOURCE M West Holdings
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