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High Profile Luxury Hollywood MXU Sold for $132.5M

A joint-venture between Redwood Urban and Beverly Pacific acquired The Jefferson at Hollywood, a luxury mixed-use asset in Hollywood, CA from Essex Property Trust for $132.5 million. The 270-unit apartment property comes with two super-graphic signs and 8,850 square feet of high street retail/restaurant space.

Built in 2010 and acquired by Essex in 2013 for $120.5 million, the asset offers a significant value-add opportunity at an irreplaceable location along Highland Ave.

ARA Newmark’s Curtis Palmer, Chris Benton, Jaspaul Kapoor and Chris Tresp represented both the buyer and seller.

Palmer says, “The Jefferson is in the heart of downtown Hollywood, with all of the building amenities that tenants seek plus a vibrant community and easy rail access. After planned interior and exterior renovations, the buyer will be able to substantially increase rents in-line with new product.”

Connect With ARA Newmark’s Palmer

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For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition
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