March 26, 2020– JLL Capital Markets announced today that it has closed the sale of One Santa Fe, a 438-unit, mixed-use, core-plus apartment community located in the Arts District of Los Angeles.
JLL marketed the property on behalf of the seller, Berkshire Residential Investments. A Canadian institutional investor purchased the offering. One Santa Fe is the final tranche of a 13-property multi-housing portfolio that JLL marketed on Berkshire’s behalf. The sale of the other 12 properties, which totaled 3,904 units across six key U.S. markets, was announced in July of last year.
One Santa Fe is located at the intersection of S. Santa Fe Avenue and E. Third Street in the heart of one of Los Angeles’ trendiest neighborhoods. Completed in 2015, the mid-rise property encompasses a mix of studio, one- and two-bedroom units as well as an 81,000-square-foot retail component known as The Yards at One Santa Fe, which comprises a diverse selection of elegant shops and esteemed dining options surrounding private landscaped walkways. In addition to the prime location convenient to multiple rail lines, community amenities include a zero-edge swimming pool, custom cabanas, outdoor dining area with grills, entertainment kitchen, resident lounge, billiards, CYBEX® fitness center, private yoga and Pilates studio, outdoor theater, fireside retreat, electric car charging stations and concierge service.
The JLL Capital Markets team representing the seller for the Los Angeles tranche of the portfolio was led by Managing Director Blake Rogers along with Executive Managing Director Matthew Lawton and Senior Managing Director Sean Deasy.