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California  + Los Angeles  + Apartments  | 

GPI Snaps Up NoHo Apartments Near Major Studios

Institutional Property Advisors (IPA), a division of Marcus & Millichap, closed the sale of The Lofts at Noho Commons, a 292-unit multifamily property in the NoHo Arts District of Los Angeles. The sale price was $92.5 million, or $316,781 per unit.

“The property’s proximity to major employers including CBS Studio Center, Universal Studios, Walt Disney Studios and Warner Bros. Studios enhances its appeal to entertainment professionals,” said Joseph Grabiec, IPA executive managing director. Grabiec and IPA’s Kevin Green and Gregory Harris represented the seller, a joint venture partnership, and procured the buyer, The GPI Companies.

Constructed in 2006 and located at 11179 Weddington St. in North Hollywood, The Lofts at NoHo Commons has 237 lofts, 41 one-bedroom units, and 14 live/work lofts. Recent upgrades, including interior upgrades to 85% of the market-rate units, total $9 million. In addition to offering proximity to major studios, the property is located within walking distance of popular dining, entertainment and nightlife destinations along Lankershim Boulevard.

Read More News Stories About: Marcus & Millichap
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Inside The Story

IPA's Grabiec, Green and Harris

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-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 7-10 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).

  • ◦Sale/Acquisition
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