David Nagel Of Decron Properties Acquires Mixed-Use Asset At 5550 Wilshire Boulevard For $114M

The mixed-use asset, located at 5550 Wilshire Boulevard in Los Angeles, CA, was sold for $114 million. The property features 163 residential units, which include one-, two-, and three-bedroom apartments and townhomes, along with 14,686 square feet of fully leased ground-floor retail space. This facility, constructed in 2010, is situated in the Miracle Mile area of Los Angeles.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $114,000,000
• Buyer: David Nagel - Decron Properties
• Broker: Blake Rogers - JLL
• Units: 163
• Price Per Unit: $699,387

David Nagel represents Decron Properties in this acquisition, which marks their first purchase in Los Angeles in nearly two years. The transaction was facilitated by broker Blake Rogers from JLL.