Christina Real Estate Investors 4 LLC, a private equity real estate company of Christina Development Corp., in partnership with Silver Creek Commercial Development, has acquired a six-unit multifamily apartment building in West Hollywood for $2.45 billion.
The three-story building is located on an approximately 6,976-square-foot lot. The company plans to restore and renovate the building to complement the partnership’s adjacent development. Financing was provided by Christina Real Estate Investors 5, which is focused on acquiring non-leveraged real estate and providing first trust deed loans to Christina-related entities.
“This property has not been on the market in nearly 40 years further demonstrating our longstanding relationships within the real estate industry,” says Lawrence Taylor, founder and CEO of Christina. “We target real estate assets in the best locations that only become available due to special, event-driven scenarios. This allows us to capitalize on excellent opportunities to purchase prime assets in the Westside region of Los Angeles, which has an imbalance of limited supply and ever-growing demand.”