Concord Capital Partners, announced today that it has acquired a 537-unit, five-property multifamily portfolio in Los Angeles from two separate sellers for $79 million. The properties were acquired with a $60.5 million senior loan provided by Arbor, supplemented by approximately $30 million in equity.

Each of the properties is iconic, architecturally significant, and located in the supply-constrained neighborhoods of Koreatown and Hollywood in Los Angeles. The properties include:

• The Fontenoy: a 51-unit community located at 1811 Whitley Avenue that was built in 1928.
• The Langham: a 181-unit community located at 715 Normandie Avenue that was built in 1927.
• The Sir Francis Drake: a 61-unit community located at 841 Serrano Avenue that was built in 1929.
• The Piccadilly: a 74-unit community located at 682 Irolo Street that was built in 1929.
• Park Wilshire: a 170-unit community located at 2424 Wilshire Boulevard that was built in 1929.

“We were attracted to these properties because of their favorable pricing relative to historical sales, replacement costs, and what we view as the intrinsic value of the assets,” said Reuben Robin, Concord Chief Executive Officer and Founding Principal. “The properties have seen strong Class A renter demographics across nearly a full century of market cycles.”

Jonathan Fhima, Concord Chief Investment Officer and Managing Principal went on to say, “Los Angeles is one of the most difficult cities in which to build scale, given the relatively small size of most buildings. We’ve successfully assembled 537 units with significant value-add potential across five of LA’s most historically significant properties—buildings that have housed icons such as Marilyn Monroe, multiple U.S. Presidents, and other high-profile figures. Our company already owns and manages thousands of units within walking distance, and we expect these properties to integrate seamlessly into our local portfolio.”

Constructed in the late 1920s, these properties have been meticulously maintained and feature grand lobbies, ornate facades, landscaped courtyards, and panoramic city views. The company will be rolling out targeted improvements to elevate each property, while maintaining the historical integrity of the buildings.

Kitty Wallace of Colliers represented the seller in the sale of Park Wilshire with Janet Neman of Kidder Mathews handling the sale of the remaining four properties. Zalmi Klein of Northmarq arranged the senior financing from Arbor.

About Concord Capital Partners

Founded in 2003, Concord is a Beverly Hills–based, vertically integrated real estate investment and services firm specializing in value-add, opportunistic, and core-plus strategies across a diversified range of asset classes. We combine a ground-up, operations-first approach with institutional-grade underwriting, reporting, and fiduciary discipline. Our platform is built around a deep understanding of our clients’ investment objectives and a commitment to long-term value creation. Concord Capital Partners, the firm’s investment arm, operates in tandem with affiliated property management and construction subsidiaries, together employing more than 150 professionals nationwide. The leadership team brings over 100 years of collective experience in commercial real estate acquisitions, lending, and management. Today, Concord maintains a significant national footprint, with more than 5,500 residential units and nearly one million square feet of commercial space under management. For more information, please visit: https://concordcompanies.com/capital-partners/

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