The property involved in this transaction is a multifamily asset known as the Emerald Apartments located at 215 West 14th Street in Downtown Los Angeles. The buyer, the Housing Authority of the City of Los Angeles (HACLA), acquired the property for $50 million. This asset comprises 154 residential units with a price per unit of $324,675.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $50,000,000
• Address: 215 West 14th Street
• Market: Los Angeles
• Units: 154
• Price Per Unit: $324,675
• Buyer: Lourdes Castro Ramirez - Housing Authority of the City of Los Angeles (HACLA)
• Broker: Blake Rogers - JLL
• Lender: City National Bank

This transaction is significant as it allows HACLA to expand affordable housing under HUD’s Restore-Rebuild Program. City National Bank provided the acquisition funding for this purchase, with plans for permanent financing scheduled for 2026. JLL’s Blake Rogers represented the seller in this transaction.