June 1, 2016
For more news on CRE in Los Angeles, attend Connect Los Angeles on June 9 at The Bloc in DTLA.
Holliday Fenoglio Fowler, L.P. (HFF) brokered the sale of SixThirtyNine, a prime development site in Los Angeles’ Fairfax Village District for $11.1 million. The 0.46-acre site is slated for a 60-unit multi-housing project that will provide panoramic views of downtown, the Hollywood sign, Griffith Observatory and the Hollywood Hills.
HFF marketed the property on behalf of the seller, Los Angeles-based Ness Holdings, Inc. The asset was purchased free and clear of existing debt by Los Angeles-based Micropolitan, a subsidiary company of Psomas.
HFF’s investment sales team included Blake A. Rogers, who says the highly-desirable Fairfax Village District site lies near Melrose Ave., immediately north of The Grove, and has a Walk Score of 93.