DTLA Apartment Portfolio Fetches $402M in One of SoCal’s Biggest Deals of Past Decade
Los Angeles-based KW Commercial agents Gabriel Guerrero and Justin Chu represented the buyer and seller on a $402-million multifamily property portfolio deal in Downtown Los Angeles. According to CoStar, the deal represents one of the largest multifamily transactions in Southern California in more than 10 years.
The seller was Barry and Rommy Shy, who utilized Downtown Los Angeles’ Adaptive Reuse Ordinance, which made it easier to convert downtown’s vacant and underutilized buildings for new uses such as housing and hotels. The buyer was Laguna Point Properties, a leading multifamily investment company with a current portfolio of more than 7,000 units.
The five-building portfolio includes 1,037 residential units and includes the following:
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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).
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