Cityview Sells Interest in Two SoCal Multifamily Properties

Century City-based Cityview is releasing assets and assessing investor returns at the close of 4Q 2019, with the sale of its interests in two Class A apartment buildings in two transactions for high profile assets. The two signature developments, both stabilized as well as strategically amenitized, are Koreatown’s The Pearl on Wilshire in Los Angeles and Baker Block in Costa Mesa, CA.

The Pearl features 346 apartment residences with street front retail. The 240-unit Baker Block sale of interest is noted as one of the highest price-per-unit sales ever recorded for a mid-rise multifamily rental product in Orange County.

Connect Media also recently reported on Cityview’s sale of the Mira apartment complex at L.A.’s Warner Ridge, one the first sales of its kind for a ground up opportunity zone development. That brings Cityview’s year-end sale of its interests in its Class A developments to three multifamily properties.

Photo Credit: Guettler Photography

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