Kidder Mathews Brokers $16M Sale of Koreatown Apartments

Kidder Mathews Senior VP Robin Ossenbeck has represented the seller in the $16 million sale of 340 South Kenmore Ave., a 54-unit apartment community in the Koreatown neighborhood of Los Angeles. The buyer was Landmark Global Management and the seller was ROM Residential.

Built in 1965, the property consists of a mix of studio, one- and two-bedroom units. According to Kidder, Landmark Global Management has been looking to grow its Koreatown portfolio, and appreciated the property’s curb appeal and significant upside.

“The buyer and seller were extremely fortunate, as the buyer was able to lock in a below-market interest rate just before the recent runup in rates, through its strong relationships with lenders,” said Ossenbeck. “The buyer will be able to add significant value to the property in coming years, making the purchase a solid investment for years to come.”