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Bascom, Realm Snag Downtown Los Angeles Site, Plan 36-Story, 422-Unit MXU Tower
Realm Group, LLC, a joint venture between Newport Beach, CA-based Realm Real Estate, LLC and Irvine, CA-based The Bascom Group, LLC, closed on a 1.5-acre site in DTLA at 675 South Bixel St. The site is entitled for the development of Bixel Tower, a 36-story, 422-unit mixed-use high-rise multifamily building.
Realm Group’s Darrin Olson says, “Bixel Tower represents an important component to Downtown Los Angeles’ ongoing successful revitalization, as the city is facing a severe housing shortage.”
HFF’s Charles Halladay, Jamie Kline, Nicholas Lench and Samuel Godfrey facilitated the land financing. Starwood Property Trust provided the debt financing for the land purchase.
The modern, concrete, steel and glass tower features a loft style design, and will incorporate a rooftop sky lounge along with an expansive 40,000-square-foot amenity deck on the 5th floor with a pool terrace, and amenities such as a spacious dog park.
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