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James Parks Of APW Avenue Group Acquires Mixed-Use Property From Michel A. Khalaf For $68.8M

Property Image
SOLD
$68,800,000

California

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Mixed-use
Sold 01/13/2026
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Property Image
SOLD

James Parks Of APW Avenue Group Acquires Mixed-Use Property From Michel A. Khalaf For $68.8M

717 West Olympic Boulevard

See Similar Deals
Mixed-use
Sold 01/13/2026
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Summary

CALIFORNIA
Asset Type:Mixed-use
Transaction Type:Sale

A 22-story mixed-use apartment tower located at 717 West Olympic Boulevard in Downtown Los Angeles has been sold for $68.8 million. The asset consists of 152 units, resulting in a price per unit of approximately $452,632.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $68,800,000
  • Buyer: James Parks - APW Avenue Group
  • Seller: Michel A. Khalaf - MetLife
  • Lender: Prime Finance
  • Units: 152
  • Price per Unit: $452,632
  • Transfer Taxes Paid by Seller: Approximately $4.1 million
  • Date of Transaction: 01/13/2026

An entity associated with MetLife was the seller in this transaction. The financing for the acquisition was provided through a $56.8 million loan from Prime Finance, supporting the buyer's efforts in securing the property.

Players

MK
MetLife
Michel A. Khalaf
8 deals$288.2M volume
SELLER
Prime Finance
Prime Finance
LENDER

Details

SOLD
IMAGE: James Parks & Michel A. Khalaf DATE: 01/13/2026 ADDRESS: 717 West Olympic Boulevard MARKET: Los Angeles ASSET TYPE: Mixed-use BUYER: James Parks - APW Avenue Group SELLER: Michel A. Khalaf - MetLife LENDER: Prime Finance SALE PRICE: $68,800,000 UNITS: 152 ~ PPU: $452,632 NOTE: An entity tied to MetLife sold the 22-story, 152-unit apartment tower at 717 W. Olympic Blvd. in Downtown Los Angeles to APW Avenue Group for $68.8 million, or about $453,000 per unit, according to property records.APW, led by James Parks, financed the deal with a $56.8 million loan from Prime Finance, while the seller paid roughly $4.1 million in transfer taxes, including Measure ULA.

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