California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
DTLA’s The Mint Apartment Building Trades to Local Investor
The Mint, an eight-story, 42-unit multifamily property located at 1136 W. 6th St. in downtown Los Angeles, has sold for $17.5 million. The buyer was a local investor.
Kidder Mathews EVP Janet Neman and associate Angelica Gotzev represented the seller, a real estate investment firm managing assets that span the U.S. and Europe. They generated multiple offers and selected a buyer who closed less than four weeks before the increased property transfer taxes were enacted due to Initiative Ordinance ULA. Jason Aftalion of Teva Properties was an advisor to the seller, identified in published reports as Holualoa Cos.
“This was a rare opportunity for an investor to acquire a turnkey, fully renovated boutique apartment community in one of the strongest and most vibrant markets in Los Angeles,” said Neman.
The property, originally constructed in 1923 as an office building, underwent extensive renovations in 2016, costing more than $12 million.
Get insight from CRE Leaders like Skanska Executive Vice President Clare De Briere. Attend Connect LA on May 3 at Hotel Indigo.
- ◦Sale/Acquisition
