Jonathan Martin Of AEW Capital Management Acquires Multifamily Asset In Hollywood For $159M

The property asset involved in the transaction is a multifamily complex located at 1331 North Cahuenga Boulevard in Los Angeles. The sale price was $159,000,000 for a 2.5-acre site housing 369 residential units. The average price per unit is approximately $430,894, and the property also includes 2,600 square feet of retail space.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $159,000,000
• Address: 1331 North Cahuenga Boulevard
• Market: Los Angeles
• Acres: 2.5
• Units: 369
• PPU: $430,894
• Buyer: Jonathan Martin - AEW Capital Management
• Seller: Art Falcone & Tony Avila - Encore Capital Management; Edward J. Miller - Cal-Coast Development and Rescore

The key individuals involved in the transaction include Jonathan Martin representing AEW Capital Management, who acquired the property from a partnership of sellers, including Art Falcone and Tony Avila of Encore Capital Management, along with Edward J. Miller from Cal-Coast Development and Rescore. This acquisition marks a renewed investment by AEW in the multifamily market of Hollywood.