MWest And GreenOak Real Estate Acquire @SanteFeLofts In Downtown LA For $68.5M

The Santa Fe Lofts, located at 121 East 6th Street in Downtown LA, has been sold in a closed transaction for $68,500,000. The multi-family property spans 213,560 square feet, equating to a price per square foot of $320. The property consists of 132 units, resulting in a price per unit of $518,000. The buyer of the property is represented by Karl Slovin and Matthew Ellis, while the seller is Capital Foresight.

Summary of transaction details

• Property Type: Multi-family
• Transaction Amount: $68,500,000
• Address: 121 East 6th Street, Los Angeles
• Market: Downtown LA
• Square Footage: 213,560
• Price per Square Foot: $320
• Units: 132
• Price per Unit: $518,000

The Santa Fe Lofts transaction involved the joint venture between MWest, a Sherman Oaks-based company, and GreenOak Real Estate, an equity fund based in New York. The property, which was acquired by Capital Foresight in 2012 for $35 million, underwent a refinancing process two years later with a $34 million mortgage. As part of the new ownership, a $6 million rehabilitation plan is in place to enhance the property's value and amenities.

Note: The LABJ reported that the sale of the Santa Fe Lofts for $68.5 million, or $519,000 per unit, marks the successful acquisition of the property by MWest and GreenOak Real Estate.