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DTLA MF Development Site Acquired for $24M
Realm Group, LLC acquired a 1.7-acre land parcel in the Fashion District of DTLA for $24.250 million. The site is entitled and planned for the development of a 33-story, 452-unit high-rise multifamily community, the first tower to be built in the emerging district.
Realm Group rezoned and entitled the existing parking lot, located at the corner of 7th Street and Maple Avenue, for the development, which includes 13,600 square feet of ground-floor commercial space. The modern, concrete, steel and glass tower’s loft style design will feature a rooftop lounge with striking city skyline views and a one-acre amenity deck at the 6th floor with a pool terrace and oversized dog park.
The buyer is a JV between Newport Beach, CA-based Realm Estate, LLC and Irvine, CA-based The Bascom Group, LLC. HFF’s Charles Halladay, Andrew Hornblower and Jamie Kline secured a land loan from Ladder Capital for the site acquisition.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Development




