Faulkner Capital Acquires Hollywood Luxury Apartments

Colliers arranged the sale of The Baxter, a newly constructed, mid-rise luxury apartment community located at 1818 N. Cherokee Ave. at the base of the Hollywood Hills. Vice chair Kitty Wallace represented all parties, including three undisclosed sellers and the buyer, Faulkner Capital Partners.

Although the sale price was not disclosed, the 85,775-square-foot property traded at more than $400 per square foot, or roughly $35 million. Colliers noted that the sale occurred within a highly selective capital markets environment, where investors remain disciplined and underwriting assumptions have reset.

“We’re seeing capital become more selective, but it remains active for deals that are well‑priced and thoughtfully structured,” said Wallace. “Transactions that offer transparency, realistic assumptions, and a clear execution path are still moving forward. This deal reflects how liquidity is prioritizing certainty and disciplined underwriting in today’s environment, particularly in established urban markets where basis and long-term fundamentals are compelling.”

On May 28, Connect Los Angeles brings together 600+ high-level owners, investors, developers, brokers, and lenders shaping the region’s market for a full day of insights and networking. Be in the room with decision-makers driving deals across LA, SoCal and the nation—register now: www.connectLA26.com

Inside The Story

Colliers' Wallace

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

Order Reprints