Curated News
By: NewsRamp Editorial Staff
July 28, 2025
Concord Capital Partners Acquires Historic LA Properties for $79M
TLDR
- Concord Capital Partners secures a strategic advantage by acquiring a 537-unit portfolio in Los Angeles for $79 million, leveraging $60.5 million in senior financing and $30 million in equity.
- Concord Capital Partners acquired five architecturally significant properties in Los Angeles, financed by a $60.5 million senior loan and $30 million in equity, aiming for value-add improvements.
- Concord's acquisition of historic Los Angeles properties preserves architectural heritage while enhancing living spaces, contributing to the community's cultural and residential landscape.
- Five iconic Los Angeles properties, including homes to Marilyn Monroe and U.S. Presidents, now under Concord's wing, promise a blend of history and modern living.
Impact - Why it Matters
This acquisition is a testament to the enduring value and appeal of historic properties in Los Angeles' competitive real estate market. For residents and investors alike, it highlights the potential for value-add investments in supply-constrained neighborhoods, offering a glimpse into the strategic moves shaping the city's housing landscape. The preservation of these properties' historical integrity while modernizing them for today's renters underscores the balance between honoring the past and meeting current market demands.
Summary
Concord Capital Partners has made a significant move in the Los Angeles real estate market by acquiring a 537-unit, five-property multifamily portfolio for $79 million. This strategic acquisition includes iconic properties in Koreatown and Hollywood, such as The Fontenoy, The Langham, The Sir Francis Drake, The Piccadilly, and Park Wilshire, all of which boast architectural significance and historical value. The deal was facilitated with a $60.5 million senior loan from Arbor, complemented by around $30 million in equity. Concord's leadership, including CEO Reuben Robin and Chief Investment Officer Jonathan Fhima, highlighted the properties' strong renter demographics and value-add potential, emphasizing their historical significance and the challenge of building scale in Los Angeles. The properties, dating back to the late 1920s, are set to undergo targeted improvements while preserving their historical integrity. This acquisition underscores Concord's commitment to expanding its footprint in Los Angeles, leveraging its extensive experience in real estate investment and management.
Source Statement
This curated news summary relied on content disributed by citybiz. Read the original source here, Concord Capital Partners Acquires Historic LA Properties for $79M
