Updated Jan 15, 2026
James Parks Of APW Avenue Group Acquires Mixed-Use Property From Michel A. Khalaf For $68.8M
717 West Olympic Boulevard
$68,800,000
Units
152
Asset Type
Mixed-use
Closing
Jan 13, 2026
About this deal
AI
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
Los Angeles Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
Deal FAQ
Visit Michel A. Khalaf to view all their deals.
Browse Los Angeles mixed use sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.23%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93