An apartment building with ground-floor retail on Hollywood Boulevard has some new owners. Charlotte, North Carolina-based Grubb Properties and Los Angeles-based PCCP have acquired a 280-unit apartment building at 5550 Hollywood Boulevard in Hollywood for $98.4 million, The Los Angeles Times reported. The sale from Vanbarton Group works out to $351,000 per unit. Walton Street Capital originated the loan to Grubb and PCCP. New York-based Vanbarton Group bought the property, named Fifty Five Fifty, from Los Angeles-based Wood Partners in 2018 for $148 million, or about $528,000 per unit. The seven-story building has 280 studio, one-, two- and three-bedroom units […]
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