LOS ANGELES – Transwestern Investment Group (TIG) today announces it acquired a 0.66-acre land site on behalf of a joint venture between TIG’s core separate account and Lennar Multifamily Communities for the development of a 76-unit multifamily project. Located at 1411 N. Highland in Los Angeles, the project sits at the prominent corner of Highland and De Longpre avenues. The project is being developed by Lennar, a high-end multifamily developer.
“Hollywood continues to be one of the top submarkets within Los Angeles with stable rent growth and a high barrier to entry, which both play well to our build-to-core strategy,” said Collin Comer, managing director of acquisitions at TIG. “The project’s thoughtful design, prime location and accessibility to major employments centers will be highly sought after by residents in the area.”
This development’s location ensures it will be a steady income producing investment. It is immediately surrounded by numerous upscale restaurants, boutiques and entertainment venues. Additionally, the site is in close proximity to some of Los Angeles’ main employment hubs. It is approximately one mile from Hollywood, five miles from the Wilshire Corridor and less than 10 miles from downtown Los Angeles.
Transwestern Investment Group is an independent investment management affiliate of the Transwestern family of companies. TIG currently manages $1.25 billion in institutional real estate investments on behalf of its discretionary and non-discretionary clients. TIG is a registered investment advisor.
ABOUT TRANSWESTERN INVESTMENT GROUP
Transwestern Investment Group is an investment advisor serving a broad range of investors through a diversified array of discretionary and non-discretionary investment vehicles. Our client-focused, relationship driven approach ensures our priorities are our clients' investment objectives. Trust, integrity and transparency are the cornerstones of our business. Transwestern Investment Group provides tactical investment management with an integrated operating platform through the Transwestern family of companies, which includes a diversified real estate services firm with 34 U.S. offices and a development company. For more information, please visit transwesterninvest.com.