Madison International Realty and Big 4 Properties have acquired El Centro Apartments and Bungalows, a Class A mixed-use multifamily and retail community located at 6200 Hollywood Blvd. in Hollywood. Terms were not disclosed. The acquisition marks the first joint deal between Madison and Big 4 after several years of collaboration.
“El Centro represents a rare opportunity to acquire a best-in-class, transit-oriented multifamily asset at a significant discount to replacement cost in one of Los Angeles’ most dynamic urban neighborhoods,” said Ronald Dickerman, president of Madison International Realty. “Our partnership with Big 4 Properties combines Madison’s expertise in providing liquidity solutions with Big 4 Properties’ institutional operating capabilities to unlock value through disciplined asset management and repositioning.”
El Centro comprises 507 residential units, 58,000 square feet of ground-floor retail space and a 1,200-space parking garage. Developed by DLJ Real Estate Capital Partners and located across the street from sister building Eastown, the property opened in 2018.
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