BOSTON--(BUSINESS WIRE)--Berkshire Group announced the purchase of One Santa Fe in Los Angeles, California. The 438-unit Class A apartment community located in the Arts District of Los Angeles will be managed by Berkshire Communities, the property management division of Berkshire Group.
“The purchase of One Santa Fe reflects our focus on purchasing quality multifamily properties in select markets across the country,” noted Eric Schrumpf, Senior Vice President, Multifamily Acquisitions, Berkshire Group. “The Arts District of Los Angeles offers a rich quality of life for residents drawn to the bustling restaurant, retail and nightlife scene in the immediate neighborhood in close proximity to the heart of downtown Los Angeles. With over 80,000 square feet of ground floor commercial and retail space, One Santa Fe offers numerous conveniences such as an organic grocer and dining options for both the residents and the neighborhood.”
Designed by renowned architect, Michael Maltzan, One Santa Fe has been featured in the Museum of Contemporary Art (MOCA) and the Los Angeles Times as a significant recent achievement in residential architecture. The property spans approximately one quarter of a mile over four city blocks and consists of two buildings situated around the retail paseo. One Santa Fe features a mezzanine level pool, a sixth-floor sundeck with a BBQ and dining area, a fitness center and private yoga/Pilates studio. The property also features three whirlpool spas, multiple BBQ and dining areas, a fully-equipped resident clubhouse, and an outdoor cinema equipped courtyard. Units feature stainless steel kitchen appliances, quartz countertops, European-style cabinets, central heat and air conditioning, and washer/dryers.
About Berkshire Group
Berkshire Group is a real estate investment management company primarily known for its multifamily investment and operational experience. In addition to deploying capital through equity, debt and development in the multifamily arena, Berkshire invests in opportunistic ventures in other real estate sectors through its Venture Investments group. Over more than four decades, Berkshire’s team of industry leaders has gained a reputation for being able to identify opportunities and effectively manage through various economic environments, establishing a long-term track record of solid performance based on thoughtful, leading edge strategies, and operational experience. The Company has experience in disciplines including acquisitions, portfolio and property management, debt, development and redevelopment. Berkshire, a registered investment advisor, is headquartered in Boston and has offices in Atlanta, New York, Baltimore, Dallas, Houston and San Francisco. As of March 31, 2016, Berkshire Group had approximately $6.3 billion in real estate assets under management. For more information on Berkshire, please visit www.berkshire-group.com.