Chris Bilotto Of Diversified Healthcare Trust Acquires Metropolitan Theatre Building In Los Angeles For $14.6M

The Metropolitan Theatre Building, located at 8727 West 3rd Street in Los Angeles, has been acquired by Diversified Healthcare Trust for $14.6 million. This commercial asset spans 19,273 square feet, translating to a price per square foot of approximately $758. The property is situated in the Mid-Wilshire submarket, an area currently experiencing notable demand for healthcare-related office spaces.

Summary of transaction details:

• Property Type: Commercial
• Transaction Amount: $14,600,000
• Buyer: Chris Bilotto - Diversified Healthcare Trust
• Seller: The Fuller Revocable Trust
• Square Footage: 19,273
• Price Per Square Foot: $758

This transaction reflects the ongoing interest of institutional investors in healthcare office properties in Los Angeles. Chris Bilotto, representing Diversified Healthcare Trust, engaged in this purchase from The Fuller Revocable Trust, indicating a strategic move within a market that shows resilience despite general challenges faced by traditional office spaces.