MALIBU, Calif.--(BUSINESS WIRE)--Christina Real Estate Investors 2, LLC announced today that it acquired the retail/commercial project located at 124 ½ - 148 North Larchmont Boulevard in Los Angeles’ Hancock Park neighborhood.
The project has 250 feet of retail frontage along North Larchmont Boulevard, making it the most significant property in the heart of the Larchmont Village Shopping District of Hancock Park. Larchmont Village Plaza is a highly coveted retail collection for residents and shoppers and is one of the few pedestrian oriented retail areas in the City of Los Angeles.
Lawrence N. Taylor, President of Christina, shared “Christina’s acquisition of Larchmont Village Plaza is an exceptional opportunity for Christina to augment its already impressive portfolio and to continue to manage and capitalize upon the charm and appeal envisioned by Julius J. La Bonte, who developed the project in 1921. This project never changed hands for nearly 100 years and we are fortunate to have been chosen by the Charlotte Lipson Trust to carry its legacy into the future.”
The purchase was financed by CalPrivate Bank, a wholly owned subsidiary of Private Bancorp of America, Inc. (OTCQX: PBAM).
Christina is a vertically integrated real estate advisor and manager founded in 1977 and headquartered in Malibu, California. For more than 41 years, Christina has sponsored direct real estate investments in the Westside region of Los Angeles, executing a proprietary and proven strategy focused on long-term wealth preservation and capital appreciation.
About Private Bancorp of America, Inc.
Private Bancorp of America, Inc. (OTCQX: PBAM), is the holding company for CalPrivate Bank. CalPrivate Bank provides a “Distinctly Different” banking experience through unparalleled service and creative funding solutions to high net worth individuals, professionals, locally owned businesses and real estate entrepreneurs. Customers are serviced through offices in Coronado, San Diego, La Jolla, Newport Beach and Beverly Hills as well as efficient electronic banking offerings. The Bank also offers various portfolio and government guaranteed lending programs, including SBA and cross-border Export-Import Bank programs. CalPrivate Bank is a SBA Preferred Lender and a Bauer Financial 5 star rated bank, as well as being in the Top 200 safest Banks as rated by Deposits.com.
This release is not an offer to sell or a solicitation of an offer to purchase securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.