Cityview Acquires Los Angeles And West Hollywood Multifamily Portfolio From Blackstone For $63M

Cityview has purchased a multifamily portfolio consisting of six Los Angeles and West Hollywood apartment buildings for $63 million from Blackstone. The transaction allows Cityview, a multifamily investor, to restructure its portfolio through a discretionary fund.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $63,000,000
• Address: Not provided
• Market: Los Angeles & West Hollywood

The seller, Blackstone, was represented by its president, Jon Gray.

Despite a 45% drop in U.S. real estate deals involving private equity funds last year, Blackstone remains optimistic about future transactions. Gray highlighted the company's $66 billion in reserves and recent developments, including a $7 billion investment in hyperscale data centers.