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

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.