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Article: Showtime. (Real Estate).(99-unit Sunbelt Hawthorn apartments sold)(Brief Article)
- Article from:
- Los Angeles Business Journal
- Article date:
- May 19, 2003
- Author:
CopyrightCOPYRIGHT 2003 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Sares-Regis Group up its stake in Los Angeles residential property with the purchase of the 99-unit Sunbelt Hawthorn apartments in Hollywood.
The investment and development firm, based in Irvine, paid $15.9 million, or about $160,000 a unit, for the 18-year old complex at 7320 Hawthorn Aye, with plans to invest an additional $750,000 in capital improvements. The company is buying into a Hollywood market where rents have increased more than 7 percent last year, versus about 5 percent ...