AIDS Healthcare Foundation Buys Skid Row Buildings For $27M For Housing Initiative

The transaction involved the sale of a Hotel & Multifamily property located at 224 Boyd Street, 508 East 4th Street & 115 East 3rd Street in Los Angeles. The property consists of 415 units with a sale price of $27,000,000, translating to a price per unit of $65,060.

Summary of transaction details:

• Property Type: Hotel & Multifamily
• Transaction Amount: $27,000,000
• Units: 415
• Address: 224 Boyd Street, 508 East 4th Street & 115 East 3rd Street
• Market: Los Angeles
• Buyer: Michael Weinstein - AIDS Healthcare Foundation
• Seller: Skid Row Housing Trust
• PPU: $65,060

The AIDS Healthcare Foundation, represented by Michael Weinstein, acquired the property after securing court approval for the $27 million purchase. The foundation aims to operate the buildings as housing for formerly homeless individuals, expanding its efforts to provide permanent housing for homeless residents.