Evan Faulkner Of Faulkner Capital Partners Acquires Multifamily Tower In Hollywood For $33.9M

The Baxter is an 86-unit Class A multifamily tower located at 1818 North Cherokee Avenue in Hollywood. The property was sold for approximately $33.9 million, which reflects a per unit price of $394,186. The transaction was completed in cash and closed within 30 days. The newly built multifamily tower traded above $400 per square foot, highlighting the ongoing demand for institutional-quality housing in the supply-constrained Los Angeles market.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $33,900,000
• Units: 86
• Price Per Unit: $394,186
• Address: 1818 North Cherokee Avenue
• Market: Hollywood
• Broker: Kitty Wallace - Colliers
• Buyer: Evan Faulkner - Faulkner Capital Partners (FCP)

Evan Faulkner, representing Faulkner Capital Partners, has acquired The Baxter in this transaction, highlighting his firm's continued investment interest in prime multifamily assets. The broker for this sale was Kitty Wallace from Colliers, who facilitated the deal, reflecting the active participation of firms in the competitive Los Angeles real estate market.