Luxury student housing complex near USC sold to investors
A new luxury student housing complex outside of USC called West 27th Place was purchased by New York investment manager Kayne Anderson Real Estate Advisors.
The seven-story, 161-unit complex at Figueroa and 27th streets is decidedly up-market, with such amenities as a 24-hour fitness center, billiards, a hot tub, barbecues and a resort-style pool with a sun deck and cabanas. Ground floor businesses will include restaurants.
Selling the complex, which opened this fall, was a joint venture of Los Angeles developers CityView and Symphony Development, real estate brokerage Institutional Property Advisors said. The price was not disclosed but downtown property experts predicted it would sell for about $60 million.
-- Roger Vincent
Photo: West 27th Place. Credit: CityView