UBS Invests $74M in N. Hollywood Luxury Apts.

A core fund managed by UBS acquired NoHo14, a 180-unit mixed-use high-rise at 5435-5449 Lankershim Blvd. in the NoHo Arts District of Los Angeles, CA, for $ 73.9 million or $ 410,583 per unit. A joint venture led by Beverly Hills-based Kennedy Wilson, Guardian Life Insurance and Urban Partners/RECP sold the asset.

The 14-story luxury apartment building was originally built as a condominium project in 2008. After the partnership purchased the property…
National Commercial Real Estate News From CoStar Group