UPDATED, Sept. 9, 2:30p.m.: DWS Group bought one of the larger apartment complexes in West Hollywood.
DWS paid $103 million for the 166-unit Domain WeHo at 7141 Santa Monica Boulevard, property records show. DWS formed in March 2018, a spinoff of Deutsche Asset & Wealth Management, the company said.
The seller was Barings. DWS confirmed the sale. Barings could not be reached for comment.
Trammell Crow Residential built the six-story complex on land it purchased in 2013 for $13.6 million, and completed construction in 2017.
Units are in studio, one-bedroom, and two-bedroom configurations ranging from just under 600 square feet to nearly 1,300 square feet. Amenities include a gym, pool and spa, outdoor kitchens with grills and dining space, and other communal space on the upper floors.
Charlotte, North Carolina-based Barings, the investment management wing of Massachusetts Mutual Life Insurance Company, is active in the Los Angeles area, but lately has been selling off some of its industrial holdings. Barings sold a San Fernando Valley industrial park to Rexford Industrial in May for $118 million.
Last year, it sold off an industrial property in Chinatown for $14.6 million and another industrial site in Vernon for $58 million.
Correction: A previous version cited the buyer as Deutsche Asset & Wealth Management.
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