Helio Group Acquires Cobalt Apartments In Culver City For $67.7M

The Cobalt Apartments, a 135-unit multifamily property located at 10601 Washington Boulevard in Culver City, was sold for $67.7 million. The property, built in 2019, consists of 135 units and features 14,754 square feet of ground floor retail space. The sale price equated to $501,481 per unit, with amenities such as a clubroom, fitness center, and heated pool, providing convenient access to major employers and shopping centers in the area.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $67,700,000
• Units: 135
• Price Per Unit: $501,481
• Address: 10601 Washington Boulevard
• Market: Culver City
• Buyer: Helio Group
• Seller: Bob Faith - Greystar
• Brokers: Gregory Harris, Joseph Grabiec & Kevin Green - Institutional Property Advisors - Marcus & Millichap

Institutional Property Advisors, specifically Kevin Green, Joseph Grabiec, and Gregory Harris, were instrumental in facilitating the sale of the Cobalt Apartments. Representing the seller, Greystar, and procuring the buyer, Helio Group, these brokers played a crucial role in finalizing the transaction.