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MWest Nabs Historic Downtown Los Angeles Building for $69M

Sherman Oaks, CA-based MWest Holdings, in partnership with GreenOak Real Estate, acquired Santa Fe Lofts, a 132-unit residential property in Downtown Los Angeles from Studio City, CA-based Capital Foresight for $68.5 million. The historic 11-story Beaux Arts-style building is located at 121 East 6th St. in the vibrant Gallery Row District.

MWest plans to invest more than $6 million to rehabilitate and upgrade the 1908-era building into a boutique residential community. That includes building a state-of-the-art fitness center, refreshing the roof deck, upgrading elevator access, and exterior renovations. The property also includes 13,500 square feet of retail.

MWest’s Karl Slovin says, “We look forward to providing the modern amenities and welcoming feel that renters value while restoring and showcasing the unique qualities that make the Santa Fe Lofts a standout property.”

Cushman & Wakefield’s Michael Condon, Jr., Kelli Snyder, and Brianna Demus handled the deal.

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Inside The Story

Read more at PR NewswireConnect With MWest Holdings’ SlovinConnect With Cushman & Wakefield’s Condon, Jr.

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