DOWNTOWN LOS ANGELES€¦ · Local area parks include the Los Angeles State Historic Park...

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959 E. STADIUM WAYLOS ANGELES, CA

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www.959EastStadiumWay.com

959 E. Stadium Way Los Angeles, CA

Multifamily Development Site – ±1.44 Acres of LandIntersection of NWC Stadium Way and Chavez Ravine Place

For up to ±264 Residential UnitsR4 Zoning – TOC Tier 3

DOWNTOWN LOS ANGELES

CHINATOWN

SOUTHWEST VIEW

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ELYSIAN PARK

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SILVERLAKE

ECHO PARK

DODGER STADIUM

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SOUTH VIEW

110W COLLEGE ST

STADIUM WAYCHAVEZ RAVINE PL.


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BEVERLY HILLS

HOLLYWOOD

SILVERLAKE

ECHO PARK

KOREATOWN

CENTURY CITYPACIFIC OCEAN


NORTH VIEW

W COLLEGE ST.

STADIUM WAY

CHAVEZ RAVINE PL.


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110

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BURBANK

CHINATOWN

PASADENA

GLENDALE

DODGER STADIUM

LOS ANGELES STATE HISTORIC

PARK


REGIONAL MAP


PACIFIC OCEAN

5www.959EastStadiumWay.com

LOCAL MAP



TABLE OF CONTENTS


LAURIE LUSTIG-BOWER Executive Vice President+1 310 550 [email protected]. 00979360

KAMRAN PAYDARVice President+1 310 550 [email protected]. 01242590

I. EXECUTIVE SUMMARY

›The Opportunity................................................................................................................. 9

›Property Information ......................................................................................................... 11

II. RENT AND SALES COMPARABLES

›Multifamily Rent Survey .................................................................................................. 13

›Sale Multifamily Comps ................................................................................................. 23

III. AREA OVERVIEW

›Downtown LA ................................................................................................................... 27

›Echo Park ........................................................................................................................... 33

›Silver Lake ......................................................................................................................... 35

›LA Metro Map ................................................................................................................... 37

I . E x e c u t i v e S u m m a r y

CBRE, Inc. is pleased to present for sale a ±62,584 square foot (±1.44 acre) infill multifamily development site with the potential to build up to 264 units located in Los Angeles, California.

Situated at the northwest corner of Stadium Way and Chavez Ravine

Place with address 959 E. Stadium Way, the Property is zoned R4-1-O and is designated as a Transit Oriented Community (TOC)Tier 3 site.

The Property is located one-half mile from iconic Dodger Stadium,

home of Major League Baseball’s Los Angeles Dodgers. The

Downtown Los Angles central business, civic, arts and entertainment

districts are approximately a five-minute drive from the Property.

Metro Gold Line’s Chinatown stop is approximately one-half mile

from the Property. In addition to the nearby Downtown Los Angeles

CBD, key employment centers in Pasadena, Glendale, Burbank,

and Hollywood are within convenient driving distance or in some

cases commuter rail service from the Property.

Abundant restaurant, retail, and entertainment venues are

proximate to the Property, particularly in Downtown Los Angeles

and in the trendy, revitalizing Echo Park, Silver Lake, and Highland

Park neighborhoods. These locales offer destination restaurants

and bars; live theater, music and sporting venues; and cinemas.

Local area parks include the Los Angeles State Historic Park

(Chinatown), Grand Park, Vista Hermosa Park, Echo Park Lake, and

Griffith Park.

Greater Echo Park Elysian neighborhood, where the Property is

located, boasts a “Very Walkable” WalkScore of 82 out of 100.

With unmet area housing demand and robust Los Angeles

multifamily investment fundamentals, 959 E. Stadium Way is well positioned to deliver units in an excellent location at an opportune time.


THE OPPORTUNITY


OPPORTUNITY HIGHLIGHTS

LOCATED IN THE “VERY WALKABLE” GREATER ECHO PARK ELYSIAN

NEIGHBORHOOD

ABUNDANT RESTAURANTS, BARS, AND RETAIL INCLUDING:

• LA LIVE, GRAND CENTRALMARKET, ROW DTLA, THE BLOC

• LOCAL ARTISAN COFFEESHOPS, BISTROS, ANDFARMER’S MARKETS

IMMEDIATE ACCESS TO DOWNTOWN LOS ANGELES CENTRAL BUSINESS, CIVIC, ARTS AND ENTERTAINMENT

PROXIMATE TO METRO GOLD LINE CHINATOWN

RAIL STATION

WELL-LOCATED TRANSIT ORIENTED COMMUNITY

(TOC) TIER 3 SITE

HIGH IDENTITY LOCATION NEAR ICONIC

DODGER STADIUM

LOS ANGELES DODGERS

POTENTIAL TO BUILD UP TO 264

MULTIFAMILY UNITS

96.3%SUBMARKET OCCUPANCY

STRONG MULTIFAMILY DEMAND

CLOSE TO TRENDY, VIBRANT ECHO PARK, SILVER LAKE,

AND HIGHLAND PARK NEIGHBORHOODS


Address 959 E. Stadium Way.Los Angeles, CA 90012

Assessor Parcel Numbers 5406-023-004

Lot Size ±62,584 SF±1.44 Acres

Zoning R4-1-O

Transit Oriented Community

Tier 3 Up To 4.5 : 1 Floor Area Ratio Up To 70% Density Bonus

EntitledYes Note: Entitlements for a 151-unit (non-TOC) project expire in November 2019

City Council District District 1, Councilmember Gilbert A. Cedillo

PROPERTY INFORMATIONParcel Map


I I . R e n t a n d S a l e s C o m p a r a b l e s

RENT COMPARABLES MAP

© 2019 CBRE Limited. Data © TeleAtlas, Google, AerialExpress, DigitalGlobe, Landiscor, USGS, i-cubed. The information contained herein (the “Information”) is intended for informational purposes only and should not be relied upon by recipients hereof. Although the Information is believed to be correct, its accuracy, correctness or completeness cannot be guaranteed and has not been verified byeither CBRE Limited or any of its affiliates (CBRE Limited and its affiliates are collectively referred to herein as “CBRE”). CBRE neither guarantees, warrants nor assumes any responsibility or liability of any kind with respect to the accuracy, correctness, completeness, or suitability of, or decisions based upon or in connection with, the Information. The recipient of the Information should take suchsteps as the recipient may deem appropriate with respect to using the Information. The Information may change and any property described herein may be withdrawn from the market at any time without notice or obligation of any kind on the part of CBRE. The Information is protected by copyright and shall be fully enforced.

Rent Comp Map

Layout ID:L01 MapId:6513948

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959 E Stadium Way

Blossom Plaza

Brownstone Lofts

Da Vinci

EastView

The Elysian

Jia

LA Plaza Village

Orsini

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RENT COMPARABLESRent Survey Comparable Units

Studio Size Rent Rent PSFComp #1 Blossom Plaza 436 $2,010 $4.61Comp #2 Brownstone Lofts 448 $1,789 $3.99Comp #3 Da Vinci 478 $1,987 $4.16Comp #4 EastView 555 $2,405 $4.33Comp #5 The Elysian 523 $2,923 $5.59Comp #6 Jia 571 $1,920 $3.36Comp #7 LA Plaza Village 473 $2,141 $4.53Comp #8 Orsini 479 $1,776 $3.71

One Bedroom Size Rent Rent PSFComp #1 Blossom Plaza 708 $2,460 $3.47Comp #2 Brownstone Lofts 712 $2,659 $3.73Comp #3 Da Vinci 746 $2,191 $2.94Comp #4 EastView 704 $2,378 $3.38Comp #5 The Elysian 734 $3,261 $4.44Comp #6 Jia 700 $2,258 $3.23Comp #7 LA Plaza Village 699 $2,773 $3.97Comp #8 Orsini 736 $2,302 $3.13

Two Bedroom Size Rent Rent PSFComp #1 Blossom Plaza 1,081 $3,008 $2.78Comp #2 Brownstone Lofts 1,064 $2,993 $2.81Comp #3 Da Vinci 1,016 $3,141 $3.09Comp #4 EastView 1,121 $3,517 $3.14Comp #5 The Elysian 892 $3,668 $4.11Comp #6 Jia 1,141 $3,187 $2.79Comp #7 LA Plaza Village 1,128 $4,046 $3.59Comp #8 Orsini 1,137 $2,873 $2.53

You are solely responsible for independently verifying the information in this Memorandum. Any reliance on it is solely at your own risk.


237 Units

900 North Broadway

Los Angeles, CA 90012

(213) 625-7900

Completed Date

October, 2016

Improvements Rating A-

Location Rating C+

Occupancy 97.0%

Common Area Amenities - Controlled Access, Fitness Center, Business Center, Clubhouse, 1 Swimming Pool, Rental Office - Stand AloneParking - Total Parking - 274 Spaces, Covered Parking Is Available For An Additional $0 Per Month, Parking Type - SubterraneanFunctional Characteristics - Private Balcony/Patio, Construction Type - FrameOther Factor - Major Street Exposure - Broadway and College StreetApartment Interior Amenities - Internet Access, Above Standard Ceiling Height, Microwave Ovens

Blossom Plaza

Unit Type % of Unit Size (SqFt) Market RentUnit Description Total Count Unit Total Total SqFt

Studio 5.49% 13 407 5,291 $2,050 $5.04

Studio 6.33% 15 436 6,540 $2,010 $4.61

One Bedroom/Alcove 4.22% 10 600 6,000 $2,064 $3.44

One Bedroom 7.17% 17 585 9,945 $2,074 $3.55

One Bedroom 5.06% 12 595 7,140 $2,278 $3.83

One Bedroom 7.59% 18 694 12,492 $2,374 $3.42

One Bedroom 9.70% 23 708 16,284 $2,460 $3.47

One Bedroom 6.33% 15 805 12,075 $2,580 $3.20

One Bedroom/Den 3.38% 8 868 6,944 $2,671 $3.08

Two Bedroom/One Bath 4.22% 10 878 8,780 $2,854 $3.25

Two Bedroom/Two Bath 6.75% 16 811 12,976 $2,634 $3.25


Two Bedroom/Two Bath 11.81% 28 1,005 28,140 $2,822 $2.81




Total/Average 100% 237 786 186,189 $2,541 $3.24

Page 1 of 10

Source: Occupancy data derived from USPS records

1 BLOSSOM PLAZA237 Units

900 North Broadway


(213) 625-7900

Completed Date

October, 2016


Location Rating C+

Occupancy 97.0%

Common Area Amenities - Controlled Access, Fitness Center, Business Center, Clubhouse, 1 Swimming Pool, Rental Office - Stand AloneParking - Total Parking - 274 Spaces, Covered Parking Is Available For An Additional $0 Per Month, Parking Type - SubterraneanFunctional Characteristics - Private Balcony/Patio, Construction Type - FrameOther Factor - Major Street Exposure - Broadway and College StreetApartment Interior Amenities - Internet Access, Above Standard Ceiling Height, Microwave Ovens

Blossom Plaza


Studio 5.49% 13 407 5,291 $2,050 $5.04

Studio 6.33% 15 436 6,540 $2,010 $4.61

One Bedroom/Alcove 4.22% 10 600 6,000 $2,064 $3.44

One Bedroom 7.17% 17 585 9,945 $2,074 $3.55

One Bedroom 5.06% 12 595 7,140 $2,278 $3.83

One Bedroom 7.59% 18 694 12,492 $2,374 $3.42

One Bedroom 9.70% 23 708 16,284 $2,460 $3.47

One Bedroom 6.33% 15 805 12,075 $2,580 $3.20

One Bedroom/Den 3.38% 8 868 6,944 $2,671 $3.08

Two Bedroom/One Bath 4.22% 10 878 8,780 $2,854 $3.25







Total/Average 100% 237 786 186,189 $2,541 $3.24

Page 1 of 10


900 NORTH BROADWAY LOS ANGELES, CA 90012

YEAR BUILT: 2016

UNITS: 237

OCCUPANCY: 97%

AMENITIES:

Controlled Access

Fitness Center

Business Center

Clubhouse

1 Swimming Pool

Rental Office-Stand Alone

Internet Access

Above Standard Ceiling Height

Microwave Ovens

Private Balcony/Patio

RENT COMPARABLES (CONTINUED)



55 Units

1168 Bellevue Avenue


(323) 828-4320

Completed Date

January, 2013

Improvements Rating C+

Location Rating B-

Occupancy 98.2%

Prior Names

Bellevue LoftsBrookshire Manor

Common Area Amenities - Controlled Access, One Laundry Facilities, Fitness Center, Business Center, Rental Office - Stand AloneParking - Total Parking - 65 Spaces, Covered Parking Is Available For An Additional $0 Per Month, Parking Type - Multi-Level StructureFunctional Characteristics - Private Balcony/Patio, Construction Type - MasonryOther Factor - Major Street Exposure - Interstate 101Apartment Interior Amenities - Internet Access, Above Standard Ceiling Height, Microwave Ovens

Brownstone Lofts


Studio 3.64% 2 448 896 $1,789 $3.99

One Bedroom 3.64% 2 594 1,188 $2,236 $3.76

One Bedroom 36.36% 20 638 12,760 $2,486 $3.90

One Bedroom 12.73% 7 712 4,984 $2,659 $3.73

One Bedroom 29.09% 16 789 12,624 $2,748 $3.48

Two Bedroom/One Bath 1.82% 1 915 915 $3,007 $3.29

Two Bedroom/Two Bath 1.82% 1 927 927 $3,034 $3.27



Total/Average 100% 55 755 41,550 $2,614 $3.46

Page 2 of 10


1168 BELLEVUE AVENUE LOS ANGELES, CA 90012

YEAR BUILT: 2013

UNITS: 55

OCCUPANCY: 98%

55 Units

1168 Bellevue Avenue


(323) 828-4320

Completed Date

January, 2013

Improvements Rating C+

Location Rating B-

Occupancy 98.2%

Prior Names

Bellevue LoftsBrookshire Manor

Common Area Amenities - Controlled Access, One Laundry Facilities, Fitness Center, Business Center, Rental Office - Stand AloneParking - Total Parking - 65 Spaces, Covered Parking Is Available For An Additional $0 Per Month, Parking Type - Multi-Level StructureFunctional Characteristics - Private Balcony/Patio, Construction Type - MasonryOther Factor - Major Street Exposure - Interstate 101Apartment Interior Amenities - Internet Access, Above Standard Ceiling Height, Microwave Ovens

Brownstone Lofts


Studio 3.64% 2 448 896 $1,789 $3.99

One Bedroom 3.64% 2 594 1,188 $2,236 $3.76

One Bedroom 36.36% 20 638 12,760 $2,486 $3.90

One Bedroom 12.73% 7 712 4,984 $2,659 $3.73

One Bedroom 29.09% 16 789 12,624 $2,748 $3.48

Two Bedroom/One Bath 1.82% 1 915 915 $3,007 $3.29

Two Bedroom/Two Bath 1.82% 1 927 927 $3,034 $3.27



Total/Average 100% 55 755 41,550 $2,614 $3.46

Page 2 of 10


AMENITIES:Controlled AccessOne Laundry FacilitiesFitness CenterBusiness CenterRental Office - Stand AloneInternet AccessAbove Standard Ceiling HeightMicrowave OvensPrivate Balcony/Patio


2 BROWNSTONE LOFTS



526 Units

909 West Temple Street


(213) 232-4600

Completed Date

September, 2016

Improvements Rating A

Location Rating B

Occupancy 92.8%

Common Area Amenities - Controlled Access, Fitness Center, Business Center, Clubhouse, Vollyball Court, 3 Swimming Pools, 2 Spas, Rental Office - Stand AloneParking - Total Parking - 1000 Spaces, Covered Parking Is Available For An Additional $0 Per Month, Parking Type - SubterraneanFunctional Characteristics - Private Balcony/Patio, Construction Type - CombinationOther Factor - Major Street Exposure - Temple Street, Harbor Fwy and Transit Way/State Route 110 and Hollywood Fwy/US Route 101, View - Downtown Los AngelesApartment Interior Amenities - Internet Access, Above Standard Ceiling Height, Microwave Ovens

Da Vinci


Studio 4.94% 26 478 12,428 $1,987 $4.16

Studio 7.22% 38 623 23,674 $2,013 $3.23

One Bedroom 10.46% 55 644 35,420 $2,092 $3.25

One Bedroom 8.75% 46 646 29,716 $2,127 $3.29

One Bedroom 12.55% 66 746 49,236 $2,191 $2.94

One Bedroom 7.98% 42 795 33,390 $2,221 $2.79

One Bedroom 10.27% 54 912 49,248 $2,440 $2.68

Two Bedroom/One and Three Quarter Bath 4.94% 26 979 25,454 $2,743 $2.80





Two Bedroom/Townhouse/Loft/Two Bath 2.66% 14 1,246 17,444 $3,639 $2.92

Three Bedroom/Three Bath 8.56% 45 1,267 57,015 $3,892 $3.07

Total/Average 100% 526 839 441,073 $2,511 $3.00

Page 3 of 10


909 WEST TEMPLE STREETLOS ANGELES, CA 90012

YEAR BUILT: 2016

UNITS: 526

OCCUPANCY: 93%

AMENITIES:

Controlled Access

Fitness Center

Business Center

Clubhouse

Volleyball Court

3 Swimming Pools

2 Spas

Rental Office - Stand Alone


Internet Access


Microwave Ovens

526 Units

909 West Temple Street


(213) 232-4600

Completed Date

September, 2016


Location Rating B

Occupancy 92.8%

Common Area Amenities - Controlled Access, Fitness Center, Business Center, Clubhouse, Vollyball Court, 3 Swimming Pools, 2 Spas, Rental Office - Stand AloneParking - Total Parking - 1000 Spaces, Covered Parking Is Available For An Additional $0 Per Month, Parking Type - SubterraneanFunctional Characteristics - Private Balcony/Patio, Construction Type - CombinationOther Factor - Major Street Exposure - Temple Street, Harbor Fwy and Transit Way/State Route 110 and Hollywood Fwy/US Route 101, View - Downtown Los AngelesApartment Interior Amenities - Internet Access, Above Standard Ceiling Height, Microwave Ovens

Da Vinci


Studio 4.94% 26 478 12,428 $1,987 $4.16

Studio 7.22% 38 623 23,674 $2,013 $3.23

One Bedroom 10.46% 55 644 35,420 $2,092 $3.25

One Bedroom 8.75% 46 646 29,716 $2,127 $3.29

One Bedroom 12.55% 66 746 49,236 $2,191 $2.94

One Bedroom 7.98% 42 795 33,390 $2,221 $2.79

One Bedroom 10.27% 54 912 49,248 $2,440 $2.68






Two Bedroom/Townhouse/Loft/Two Bath 2.66% 14 1,246 17,444 $3,639 $2.92


Total/Average 100% 526 839 441,073 $2,511 $3.00

Page 3 of 10



3 DA VINCI



121 Units

327 North Boylston Street


(213) 629-7443

Completed Date

August, 2018


Location Rating C+

Occupancy 81.0%

Prior Names

Boylston Arms

Common Area Amenities - Controlled Access, Laundry Facilities, Fitness Center, 1 Swimming Pool, Rental Office - Stand AloneParking - Total Parking - 145 Spaces, Covered Parking Is Available For An Additional $0 Per Month, Parking Type - SubterraneanFunctional Characteristics - Private Balcony/Patio, Construction Type - FrameOther Factor - View - Downtown Los AngelesApartment Interior Amenities - Internet Access, Above Standard Ceiling Height, Microwave Ovens

EastView


Studio 555 $2,405 $4.33

Studio 609 $2,672 $4.39

Loft/Studio 710

Loft/Studio 770

Loft/Studio 832 $2,915 $3.50

Loft/Studio 892 $2,933 $3.29

Loft/Studio 901 $2,760 $3.06

Loft/Studio 912

One Bedroom 647 $2,443 $3.78

One Bedroom 704 $2,378 $3.38

One Bedroom 706 $2,565 $3.63

One Bedroom 713 $2,706 $3.80

Two Bedroom/Two Bath 1,088 $3,003 $2.76



Two Bedroom/Townhouse/Loft/Two Bath 1,267 $4,327 $3.42

Total/Average 100% 121

Page 4 of 10



4 EASTVIEW

EASTVIEW

327 NORTH BOYLSTON STREETLOS ANGELES, CA 90012

YEAR BUILT: 2018

UNITS: 121

OCCUPANCY: 81%

121 Units

327 North Boylston Street


(213) 629-7443

Completed Date

August, 2018


Location Rating C+

Occupancy 81.0%

Prior Names

Boylston Arms

Common Area Amenities - Controlled Access, Laundry Facilities, Fitness Center, 1 Swimming Pool, Rental Office - Stand AloneParking - Total Parking - 145 Spaces, Covered Parking Is Available For An Additional $0 Per Month, Parking Type - SubterraneanFunctional Characteristics - Private Balcony/Patio, Construction Type - FrameOther Factor - View - Downtown Los AngelesApartment Interior Amenities - Internet Access, Above Standard Ceiling Height, Microwave Ovens

EastView


Studio 555 $2,405 $4.33

Studio 609 $2,672 $4.39

Loft/Studio 710

Loft/Studio 770

Loft/Studio 832 $2,915 $3.50

Loft/Studio 892 $2,933 $3.29

Loft/Studio 901 $2,760 $3.06

Loft/Studio 912

One Bedroom 647 $2,443 $3.78

One Bedroom 704 $2,378 $3.38

One Bedroom 706 $2,565 $3.63

One Bedroom 713 $2,706 $3.80




Two Bedroom/Townhouse/Loft/Two Bath 1,267 $4,327 $3.42

Total/Average 100% 121

Page 4 of 10


AMENITIES:

Controlled Access

Laundry Facilities

Fitness Center

1 Swimming Pool



Internet Access


Microwave Ovens



96 Units

1115 West Sunset Blvd


(213) 284-8816

Completed Date

August, 2014


Location Rating B-

Occupancy 97.9%

Common Area Amenities - Controlled Access, Fitness Center, Business Center, Clubhouse, Rental Office - Stand AloneParking - Total Parking - 138 Spaces, Covered Parking Is Available For An Additional $150 Per Month, Parking Type - Above Ground and SubterraneanFunctional Characteristics - Private Balcony/Patio, Construction Type - Steel FrameOther Factor - Major Street Exposure - Sunset Blvd, View - Downtown Los AngelesApartment Interior Amenities - Internet Access, Optional Monitored Security, Above Standard Ceiling Height, Microwave Ovens

Elysian, The

Page 5 of 10



Studio 6.25% 6 523 3,138 $2,929 $5.60

Studio 1.04% 1 665 665 $3,098 $4.66

Studio 5.21% 5 752 3,760 $3,185 $4.24

Studio 5.21% 5 760 3,800 $2,537 $3.34

Studio 1.04% 1 774 774 $2,629 $3.40

Studio 1.04% 1 796 796 $2,883 $3.62

Studio 5.21% 5 856 4,280 $4,631 $5.41

Studio 1.04% 1 975 975 $3,089 $3.17

One Bedroom 6.25% 6 734 4,404 $3,261 $4.44

One Bedroom 1.04% 1 889 889 $3,348 $3.77

One Bedroom 17.71% 17 892 15,164 $2,723 $3.05

One Bedroom 5.21% 5 897 4,485 $3,167 $3.53

One Bedroom 11.46% 11 905 9,955 $3,579 $3.95

One Bedroom 1.04% 1 934 934 $4,327 $4.63

One Bedroom 1.04% 1 1,123 1,123 $4,696 $4.18





Penthouse - Two Bedroom/Two Bath 1.04% 1 1,094 1,094 $4,728 $4.32






Total/Average 100% 96 906 86,957 $3,679 $4.06

Page 6 of 10


1115 WEST SUNSET BLVDLOS ANGELES, CA 90012

YEAR BUILT: 2014

UNITS: 96

OCCUPANCY: 98%

AMENITIES:Controlled AccessFitness CenterBusiness CenterClubhouseRental Office - Stand Alone

Private Balcony/PatioInternet AccessOptional Monitored SecurityAbove Standard Ceiling HeightMicrowave Ovens


5 THE ELYSIAN



280 Units

639 North Broadway


(213) 250-6128

Completed Date

March, 2014


Location Rating B-

Occupancy 97.1%

Common Area Amenities - Controlled Access, Fitness Center, Business Center, Clubhouse, 1 Swimming Pool, 1 Spa, Rental Office - Stand AloneParking - Total Parking - 588 Spaces, Parking Type - SubterraneanFunctional Characteristics - Private Balcony/Patio Available In Select Units, Construction Type - CombinationOther Factor - Major Street Exposure - Broadway, View - Downtown Los AngelesApartment Interior Amenities - Internet Access, Above Standard Ceiling Height, Microwave Ovens

Jia


Studio 10.71% 30 571 17,130 $1,920 $3.36

Studio 8.93% 25 645 16,125 $2,234 $3.46

Studio 1.79% 5 652 3,260 $2,057 $3.15

Studio 1.79% 5 663 3,315 $2,053 $3.10

One Bedroom 5.36% 15 686 10,290 $2,154 $3.14

One Bedroom 7.50% 21 700 14,700 $2,258 $3.23

One Bedroom 7.14% 20 712 14,240 $2,191 $3.08

One Bedroom 5.36% 15 725 10,875 $2,246 $3.10

One Bedroom 19.29% 54 766 41,364 $2,394 $3.13

One Bedroom 12.50% 35 835 29,225 $2,296 $2.75

Two Bedroom/One Bath 4.64% 13 1,113 14,469 $2,817 $2.53




Total/Average 100% 280 803 224,865 $2,401 $2.99

Page 8 of 10


280 Units

639 North Broadway


(213) 250-6128

Completed Date

March, 2014


Location Rating B-

Occupancy 97.1%

Common Area Amenities - Controlled Access, Fitness Center, Business Center, Clubhouse, 1 Swimming Pool, 1 Spa, Rental Office - Stand AloneParking - Total Parking - 588 Spaces, Parking Type - SubterraneanFunctional Characteristics - Private Balcony/Patio Available In Select Units, Construction Type - CombinationOther Factor - Major Street Exposure - Broadway, View - Downtown Los AngelesApartment Interior Amenities - Internet Access, Above Standard Ceiling Height, Microwave Ovens

Jia


Studio 10.71% 30 571 17,130 $1,920 $3.36

Studio 8.93% 25 645 16,125 $2,234 $3.46

Studio 1.79% 5 652 3,260 $2,057 $3.15

Studio 1.79% 5 663 3,315 $2,053 $3.10

One Bedroom 5.36% 15 686 10,290 $2,154 $3.14

One Bedroom 7.50% 21 700 14,700 $2,258 $3.23

One Bedroom 7.14% 20 712 14,240 $2,191 $3.08

One Bedroom 5.36% 15 725 10,875 $2,246 $3.10

One Bedroom 19.29% 54 766 41,364 $2,394 $3.13

One Bedroom 12.50% 35 835 29,225 $2,296 $2.75





Total/Average 100% 280 803 224,865 $2,401 $2.99

Page 8 of 10


639 NORTH BROADWAYLOS ANGELES, CA 90012

YEAR BUILT: 2014

UNITS: 280

OCCUPANCY: 97%

AMENITIES:

Controlled Access

Fitness Center

Business Center, Clubhouse

1 Swimming Pool

1 Spa



Internet Access


Microwave Ovens


6 JIA



355 Units

555 North Spring Street


(213) 985-7982

Completed Date

August, 2019

Improvements Rating A (Prelim.)

Location Rating B

Prior Names

LA Plaza Cultura Village

Common Area Amenities - Controlled Access, Fitness Center, Business Center, Clubhouse, 1 Swimming Pool, 1 Spa, Rental Office - Stand AloneParking - Total Parking - 720 Spaces, Covered Parking Is Available For An Additional $150 Per Month, Parking Type - Above Ground and SubterraneanFunctional Characteristics - Private Balcony/PatioOther Factor - Major Street Exposure - Broadway, Cesar Estrada Chavez Avenue, Hill Street and Spring StreetApartment Interior Amenities - Internet Access, Above Standard Ceiling Height, Microwave Ovens

LA Plaza Village (Under Construction)


Studio 0.85% 3 429 1,287 $1,938 $4.52

Studio 7.89% 28 473 13,244 $2,141 $4.53

Studio 3.10% 11 473 5,203

Studio 20.00% 71 495 35,145 $2,182 $4.41

Studio 7.32% 26 495 12,870

Studio 3.10% 11 501 5,511 $2,139 $4.27

Studio 0.85% 3 693 2,079 $2,382 $3.44

One Bedroom 2.82% 10 649 6,490 $2,687 $4.14

One Bedroom 1.41% 5 649 3,245

One Bedroom 1.97% 7 666 4,662 $2,787 $4.18

One Bedroom 0.56% 2 699 1,398 $2,773 $3.97

One Bedroom 0.28% 1 737 737 $2,858 $3.88

One Bedroom 0.28% 1 737 737

One Bedroom 1.13% 4 748 2,992 $2,894 $3.87

One Bedroom 5.35% 19 754 14,326 $2,875 $3.81

One Bedroom 1.41% 5 754 3,770

One Bedroom 10.70% 38 770 29,260 $2,971 $3.86

One Bedroom 2.25% 8 770 6,160

Page 9 of 10

Source: Occupancy data derived from USPS recordsOne Bedroom 0.56% 2 775 1,550

One Bedroom 0.56% 2 792 1,584 $2,882 $3.64

One Bedroom 1.13% 4 809 3,236 $2,951 $3.65

One Bedroom 0.85% 3 809 2,427

One Bedroom 0.28% 1 814 814 $2,939 $3.61

One Bedroom 0.56% 2 831 1,662 $2,884 $3.47

One Bedroom 0.28% 1 935 935 $3,093 $3.31

One Bedroom/Townhouse/One and One Half Bath 1.41% 5 1,122 5,610 $3,382 $3.01


Two Bedroom/One and Three Quarter Bath 1.97% 7 968 6,776

Two Bedroom/One and Three Quarter Bath 0.56% 2 1,023 2,046 $3,775 $3.69


Two Bedroom/One and Three Quarter Bath 0.56% 2 1,078 2,156



Three Bedroom/One and Three Quarter Bath 1.13% 4 1,254 5,016 $4,975 $3.97

Three Bedroom/One and Three Quarter Bath 0.28% 1 1,254 1,254

Three Bedroom/One and Three Quarter Bath 0.28% 1 1,595 1,595 $5,108 $3.20

Total/Average 100% 355 707 250,839 $2,875 $3.99

Page 10 of 10


555 NORTH SPRING STREETLOS ANGELES, CA 90012

YEAR BUILT: 2019

UNITS: 355

UNDER CONSTRUCTION

AMENITIES:

Controlled Access

Fitness Center

Business Center

Clubhouse

1 Swimming Pool

1 Spa



Internet Access


Microwave Ovens


7 LA PLAZA VILLAGE



ORSINI

CMBS Loan

Number of Units 1,072Phases I. 2003

II. 2008III. 2010

Improvements Rating ALocation Rating BOccupancy 95.2%

505 North Figueroa StreetLos Angeles, CA 90012

(213) 346-9980

Page 2 of 4Orsini

Unit Type Phase Unit % of Size (SqFt) Actual RateCount Total Unit Total Total SqFt

Studio I 4 0.37% 568 2,272 $1,872 $3.30

Studio II 30 2.80% 479 14,370 $1,776 $3.71

Studio III 23 2.15% 596 13,708 $1,832 $3.07

One Bedroom I 74 6.90% 698 51,652 $2,113 $3.03

One Bedroom I 5 0.47% 852 4,260 $2,372 $2.78

One Bedroom I 5 0.47% 900 4,500 $2,431 $2.70

One Bedroom II 4 0.37% 568 2,272 $1,903 $3.35

One Bedroom II 244 22.76% 647 157,868 $2,017 $3.12

One Bedroom II 44 4.10% 735 32,340 $2,302 $3.13

One Bedroom II 1 0.09% 827 827 $2,113 $2.56

One Bedroom II 5 0.47% 970 4,850 $2,658 $2.74

One Bedroom II 1 0.09% 1,218 1,218 $3,044 $2.50

One Bedroom III 45 4.20% 647 29,115 $2,019 $3.12

One Bedroom III 22 2.05% 725 15,950 $2,008 $2.77

Two Bedroom/Two Bath I 5 0.47% 935 4,675 $2,816 $3.01





Two Bedroom/Two Bath I 5 0.47% 1,052 5,260 $2,851 $2.71



Two Bedroom/Loft/Two Bath I 10 0.93% 1,325 13,250 $3,523 $2.66

Two Bedroom/Two Bath II 50 4.66% 916 45,800 $2,808 $3.07




Two Bedroom/Two Bath II 5 0.47% 1,052 5,260 $2,553 $2.43




PROPERTY COMPOSITION

Page 3 of 4Orsini

Unit Type Phase Unit % of Size (SqFt) Actual RateCount Total Unit Total Total SqFt


Two Bedroom/Two Bath III 90 8.40% 984 88,560 $2,516 $2.56

Two Bedroom/Two Bath III 30 2.80% 1,149 34,470 $2,833 $2.47

Two Bedroom/Townhouse/Two Bath I 3 0.28% 1,218 3,654 $3,409 $2.80

Total/Average 1,072 100% 833 892,993 $2,370 $2.85

Page 4 of 4Orsini

505 NORTH FIGUEROA STREETLOS ANGELES, CA 90012

PHASES:200320082010

UNITS: 1,072

OCCUPANCY 95%

ORSINI

CMBS Loan

Number of Units 1,072Phases I. 2003

II. 2008III. 2010

Improvements Rating ALocation Rating BOccupancy 95.2%

505 North Figueroa StreetLos Angeles, CA 90012

(213) 346-9980

Page 2 of 4Orsini


8 ORSINI



MULTIFAMILY SALE COMPARABLES

Property Address City Zip Units Sale Price CAP GRM $/Unit $/SF SF Built Sale Date801 S Olive St (Part of Portfolio) Los Angeles 90014 363 $280,000,000 - - $771,350 $875 320,000 2017 05/19/18801 S Hope St Los Angeles 90017 290 $220,000,000 - - $758,621 $733 300,000 2014 12/01/18732 S Spring St (Part of Multi-Property Sale) Los Angeles 90014 300 $203,500,000 - - $678,333 $727 280,000 2018 07/02/19755 S Spring St (Part of Multi-Property Sale) Los Angeles 90014 275 $199,625,000 - - $725,909 $705 283,351 2018 07/02/19770 S Grand Ave (Part of Portfolio) Los Angeles 90017 700 $374,000,000 - - $534,286 $648 577,000 2015 05/19/18138 N Beaudry Ave Los Angeles 90012 210 $88,275,000 4.00% - $420,357 $508 173,686 2008 06/20/181515 Wilshire Blvd Los Angeles 90017 218 $83,750,000 - - $384,174 $508 165,000 2016 07/11/171111 Wilshire Blvd Los Angeles 90017 210 $91,250,000 - - $434,524 $481 189,826 2013 06/27/19222 S Main St Los Angeles 90012 271 $105,180,000 - - $388,118 $470 223,783 2017 07/11/191801-1825 Morton Ave Los Angeles 90026 66 $25,500,000 3.50% - $386,364 $468 54,433 1972 11/30/18408 S Spring St Los Angeles 90013 56 $30,100,000 2.50% - $537,500 $391 77,030 2004 08/28/18501 S Los Angeles St Los Angeles 90013 144 $21,265,000 - - $147,674 $322 66,030 1911 08/09/18236 S Bonnie Brae St Los Angeles 90057 65 $15,600,000 - - $240,000 $322 48,458 1989 10/26/17121 E 6th St Los Angeles 90014 132 $68,747,000 - - $520,811 $322 213,560 1911 03/30/18625 N Bunker Hill Ave Los Angeles 90012 65 $12,029,000 - - $185,062 $300 40,041 1987 03/02/18121 E 5th St Los Angeles 90013 150 $15,250,000 - - $101,667 $250 60,979 1905 04/25/18307-317 S Broadway (Part of Multi-Property Sale) Los Angeles 90013 121 $20,202,818 - - $166,965 $224 90,187 1918 11/01/17

3.33% $509,976 $586Average:

© 2019 CBRE, Inc. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independentlyconfirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and otherfactors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

959 E STADIUM WAYSOLD MULTIFAMILY PROPERTIES

Criteria: Properties located in 2-mile radius from Subject Property, 50 units or more, sold from July 2017 to July 2019Source: CoStar, sorted by price per square foot

Criteria: Properties located in 2-mile radius from Subject Property, 50 units or more, sold from July 2017 to July 2019

Source: CoStar, sorted by price per square foot



(Continued on the Next Page)

959 E STADIUM WAYSOLD LAND PROPERTIES

Criteria: Sites located in 2-mile radius from Subject Property, $150 PSF+, sold between Jan 2017 and July 2019Source: CoStar, Sorted by Price Per Square Foot

Address City Zip Price SF Price/SF Zoning Sale Date126 Astronaut E S Onizuka St Los Angeles 90012 $16,162,500 14,265 $1,133 LAC2 10/1/181614 Wilshire Blvd Los Angeles 90017 $5,925,000 6,098 $972 C4 6/1/18361 S Spring St Los Angeles 90013 $13,500,000 19,998 $675 LAC4 1/18/18431 E 7th St Los Angeles 90014 $6,600,000 10,911 $605 R5 3/14/191110-1136 Ingraham St (Part of Multi-Property Sale) Los Angeles 90017 $29,842,617 58,043 $514 CW 6/7/19433 S Main St Los Angeles 90013 $9,640,000 19,018 $507 LAC4 12/18/17675 N Spring St Los Angeles 90012 $4,780,000 9,831 $486 LAC2 9/6/17436-446 S Hewitt St Los Angeles 90013 $7,400,000 15,599 $474 LAM3 8/31/18606 E 1st St Los Angeles 90012 $10,650,000 23,248 $458 LACM 8/20/181140 Ingraham St (Part of Multi-Property Sale) Los Angeles 90017 $3,057,383 7,297 $419 LACW 6/7/19166 S Alvarado St Los Angeles 90057 $7,800,000 18,748 $416 C2-2 11/9/18495 Hartford Ave Los Angeles 90017 $18,000,000 46,147 $390 R5(CW)U/6 6/14/191218-1232 Ingraham St Los Angeles 90017 $8,450,000 22,002 $384 LACW 4/6/18701-717 Maple Ave Los Angeles 90014 $17,314,500 50,943 $340 M2 7/5/181929 W Sunset Blvd (Part of Multi-Property Sale) Los Angeles 90026 $2,344,272 6,998 $335 LAC2 7/3/19734-736 South Hill St Los Angeles 90014 $6,500,000 19,567 $332 C5 12/15/17212 E 7th St Los Angeles 90014 $6,935,500 21,527 $322 LAM2 7/5/18732 S Main St Los Angeles 90014 $12,000,000 38,002 $316 LAC5 12/22/171820-1870 Beverly Blvd (Part of Multi-Property Sale) Los Angeles 90057 $10,502,218 33,471 $314 R4, Los Angeles 10/16/18942 N Broadway Los Angeles 90012 $8,000,000 27,356 $292 LAC2 10/23/17

Criteria: Sites located in 2-mile radius from Subject Property, $150 PSF+, sold between Jan 2017 and July 2019

Source: CoStar, Sorted by Price Per Square Foot

LAND SALE COMPARABLES (Continued on next page)



Criteria: Sites located in 2-mile radius from Subject Property, $150 PSF+, sold between Jan 2017 and July 2019

Source: CoStar, Sorted by Price Per Square Foot

LAND SALE COMPARABLES (Continued from previous page)

154 Glendale Blvd Los Angeles 90026 $1,250,000 4,599 $272 LACW 10/2/182007 Reservoir St Los Angeles 90026 $5,000,000 19,061 $262 LAR4 7/3/19405 N Alvarado St Los Angeles 90026 $4,850,000 18,500 $262 LAC2 6/26/18372 Loma Dr (Part of Multi-Property Sale) Los Angeles 90017 $2,262,765 9,385 $241 LAR4 11/9/17700 N Spring St Los Angeles 90012 $5,150,000 21,780 $236 LA C2-2 6/14/19414 S Crocker St Los Angeles 90013 $8,450,000 35,767 $236 M2 5/17/19N Alvarado St. & Kent St. Los Angeles 90026 $6,500,000 27,565 $236 C2 5/14/18200 Mesnager St Los Angeles 90012 $15,200,000 66,542 $228 M3-2 8/15/181435 W 3rd St Los Angeles 90017 $8,100,000 36,679 $221 LACW 6/8/18245 N Union Ave Los Angeles 90026 $3,000,000 14,350 $209 RD1.5 10/26/17706-712 N Alvarado St Los Angeles 90026 $2,400,000 11,656 $206 RD2 2/27/18114 S Bonnie Brae St (Part of Multi-Property Sale) Los Angeles 90057 $1,533,058 7,501 $204 R4-2, Los Angeles 10/16/18924 Yale St Los Angeles 90012 $5,880,500 29,639 $198 C-2 6/29/18823 Cleveland St Los Angeles 90012 $1,900,000 9,583 $198 LAR4 11/6/181301 Colton St Los Angeles 90026 $2,203,000 11,173 $197 LACW 4/10/181492 W Sunset Blvd Los Angeles 90026 $1,250,000 6,460 $193 LAC2 11/14/17250 S Burlington Ave Los Angeles 90057 $900,000 4,866 $185 LAR3 8/1/181346-1352 W Court St Los Angeles 90026 $3,025,000 16,880 $179 R4(CW)-75/3-0 4/24/19808 N Beaudry Los Angeles 90012 $1,251,000 7,000 $179 LAR3 11/7/18335-339 S Clarence St Los Angeles 90033 $2,820,000 15,899 $177 LA MR1 7/5/191417-1419 N Main St Los Angeles 90012 $2,380,000 13,504 $176 LAMR2 (Urban Innovation) 7/12/181101 N Main St Los Angeles 90012 $24,000,000 138,944 $173 LAC2 10/19/171817 Sichel St Los Angeles 90031 $1,500,000 9,052 $166 R3-1 Tier 1 6/4/192515-2517 W Sunset Blvd Los Angeles 90026 $2,200,000 13,321 $165 LAC2 7/9/181800 Beverly Blvd (Part of Multi-Property Sale) Los Angeles 90057 $5,024,724 31,127 $161 LAR4 10/16/181346 Sutherland St Los Angeles 90026 $1,020,000 6,765 $151 LARD1.5-1VL 6/25/18418-430 Firmin St Los Angeles 90026 $2,630,000 17,472 $151 LACW 2/2/18

© 2019 CBRE, Inc. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is yourresponsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value ofthis transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine toyour satisfaction the suitability of the property for your needs.

959 E STADIUM WAYSOLD LAND PROPERTIES

Criteria: Sites located in 2-mile radius from Subject Property, $150 PSF+, sold between Jan 2017 and July 2019Source: CoStar, Sorted by Price Per Square Foot

Address City Zip Price SF Price/SF Zoning Sale Date126 Astronaut E S Onizuka St Los Angeles 90012 $16,162,500 14,265 $1,133 LAC2 10/1/181614 Wilshire Blvd Los Angeles 90017 $5,925,000 6,098 $972 C4 6/1/18361 S Spring St Los Angeles 90013 $13,500,000 19,998 $675 LAC4 1/18/18431 E 7th St Los Angeles 90014 $6,600,000 10,911 $605 R5 3/14/191110-1136 Ingraham St (Part of Multi-Property Sale) Los Angeles 90017 $29,842,617 58,043 $514 CW 6/7/19433 S Main St Los Angeles 90013 $9,640,000 19,018 $507 LAC4 12/18/17675 N Spring St Los Angeles 90012 $4,780,000 9,831 $486 LAC2 9/6/17436-446 S Hewitt St Los Angeles 90013 $7,400,000 15,599 $474 LAM3 8/31/18606 E 1st St Los Angeles 90012 $10,650,000 23,248 $458 LACM 8/20/181140 Ingraham St (Part of Multi-Property Sale) Los Angeles 90017 $3,057,383 7,297 $419 LACW 6/7/19166 S Alvarado St Los Angeles 90057 $7,800,000 18,748 $416 C2-2 11/9/18495 Hartford Ave Los Angeles 90017 $18,000,000 46,147 $390 R5(CW)U/6 6/14/191218-1232 Ingraham St Los Angeles 90017 $8,450,000 22,002 $384 LACW 4/6/18701-717 Maple Ave Los Angeles 90014 $17,314,500 50,943 $340 M2 7/5/181929 W Sunset Blvd (Part of Multi-Property Sale) Los Angeles 90026 $2,344,272 6,998 $335 LAC2 7/3/19734-736 South Hill St Los Angeles 90014 $6,500,000 19,567 $332 C5 12/15/17212 E 7th St Los Angeles 90014 $6,935,500 21,527 $322 LAM2 7/5/18732 S Main St Los Angeles 90014 $12,000,000 38,002 $316 LAC5 12/22/171820-1870 Beverly Blvd (Part of Multi-Property Sale) Los Angeles 90057 $10,502,218 33,471 $314 R4, Los Angeles 10/16/18942 N Broadway Los Angeles 90012 $8,000,000 27,356 $292 LAC2 10/23/17



I I I . A r e a O v e r v i e w

Downtown Los Angeles is approximately five minutes away from

the Property. The area is bounded by the Los Angeles river to the

east, 101 Hollywood Freeway to the north, the 10 Santa Monica

Freeway on the south and just west of the 110 Harbor Freeway on

the west. Downtown Los Angeles features many of the city’s major

arts institutions and sports facilities, a variety of skyscrapers and

associated large multinational corporations, an array of public art,

unique shopping opportunities and the hub of the city’s freeway

and public transportation networks.

Downtown Los Angeles features one of the largest skylines in the

United States, and its development has continued in recent years.

The skyline will continue to see rapid growth with a number of high

profile Asia-based developers building landmark projects.

The renaissance of Downtown Los Angeles that began in the

late 1990’s has attracted over $17.3 Billion of investment. With

many historic buildings having been converted into lofts, the

transformation continues today as numerous retail businesses and

restaurants are opening, and new mid- and high-rise residential

buildings are being built and in the planning pipeline.

Downtown LA’s residential growth has been unprecedented.

Since the passage of the Adaptive Reuse Ordinance in 1999

more than 22,000 new housing units have been constructed in

Downtown Los Angeles and another 7,400 additional residential

units are currently under construction. Of the new units, 6,509 are

market rate rental units and 69 are affordable units. With a current

95% rental occupancy rate, the long term demand for housing is

expected to be strong.



DODGER STADIUMWhen the Dodgers aren’t playing at home, the stadium hosts events throughout the year that make Dodger Stadium the place to be! According to mlb.com, in addition to the extensive renovations completed in 2013, future improvements and additional amenities are planned for 2020. One of the amenity improvements will be the Centerf ield Plaza. The new Centerf ield Plaza will create a stadium “front door” with almost two acres of unique restaurants, entertainment

and kids’ areas, and retail locations.

“SIGNIFICANT ADDITIONAL INVESTMENTS POTENTIALLY INCLUDE TRANSFORMATIONAL DEVELOPMENT OF DODGER STADIUM PARKING LOTS INTO A VIBRANT VILLAGE WALKING COMMUNITY, AND A PROPOSED CHAVEZ RAVINE PASSENGER AERIAL GONDOLA.”


GRAND CENTRAL MARKETGrand Central Market has been in continuous operation since it first opened

in 1917. Up to the early 2000’s, the market consisted primarily of grocers,

butchers and delicatessens serving local residents. The renaissance of

Downtown Los Angeles, and the recent food hall trend sweeping the U.S.

has transformed the 30,000-square foot arcade in to a culinary destination.

Grand Central Market gained national recognition when it was nominated for

Best New Restaurant in 2014 by Bon Appetit Magazine. The market’s 35+ food

stalls along with three produce markets reflect the vibrant and diverse culture

of Los Angeles.

THE BLOCIn 2013, The Ratkovich Company acquired the dated Macy’s Plaza for

$241 million, which included the retail portion (Macy’s, Express, Bath

and Body Works, LA Fitness) as well as the 23-story, 485-room Sheraton

hotel and the 33-story, 700 South Flower office tower. Ratkovich spent

$180 million in renovations to the entire complex, transforming it into a

premium shopping, dining, business, and leisure destination in the heart

of downtown's Financial District. The development is directly connected to

the heavily-travelled 7th & Metro subway station.

STAPLES CENTER & LA LIVEStaples Center is home to the Los Angeles Lakers (basketball), Los Angeles

Clippers (basketball), Los Angeles Kings (hockey), and the Los Angeles Sparks

(women’s basketball). This world-class arena hosts over 270 events a year

and over four million visitors annually. The adjacent LA Live campus boasts

the JW Marriott and Ritz Carlton hotel, Microsoft Theater, 18 restaurants, 3

night clubs, the Grammy Museum and a 14-screen Regal Cinema.


FIGAT7THReopened in late 2012 after a $40 million makeover, FIGat7th is an open-

air shopping mall located in the Financial District. Notable tenants include

City Target, Nordstrom Rack, Zara, Sunglass Hut, H&M, MAC Cosmetics

and L’Occitane. The center also features numerous restaurant and eatery

options including California Pizza Kitchen, Loteria Grill, Morton’s Steakhouse,

Mendocino Farms, Sprinkles Cupcakes, City Tavern, and Starbucks.

THE BROAD Located adjacent to the Walt Disney Concert hall, The Broad is Los Angeles’

newest art museum. The $140-million museum was financed by philanthropist

Eli Broad, after who it is named, and houses the Broad art collection. Admission

to the museum’s permanent collection is free. The Broad’s permanent exhibits

include works by Cindy Sherman, Jeff Koons, Roy Lichtensteinn and Andy

Warhol. The museum was opened in September 2015 and attracted over

700,000 visitors in its first year.

THE MUSIC CENTERThe Music Center is Los Angeles’ performing arts destination. The campus

consists of the Dorothy Chandler Pavilion (LA Opera), Ahmanson Theatre,

Mark Taper Forum (Center Theatre Group), and the Frank Gehry-designed

Walt Disney Concert Hall (Los Angeles Philharmonic and Los Angeles Mater

Chorale). The Music Center also programs and manages Grand Park, a 12-

acre greenspace located adjacent to the campus. The Music Center brings

the world’s greatest artistic programs and events to Los Angeles, in addition

to free community events, festivals, outdoor concerts and arts education.


BURBANK

PASADENA

GLENDALE

PACIFIC OCEAN

HOLLYWOODDOWNTOWN LOS ANGELES

NEARBY EMPLOYMENT CENTERS

BEVERLY HILLS / WEST HOLLYWOOD



DOWNTOWN LA AMENITIES


The neighborhood of Echo Park is centered around

the lake of the same name. In 2013, Echo Park Lake re-

opened to the public following a $45 million renovation.

Local residents can enjoy pedal boating among the

lotus flowers that bloom on the lake in addition to

16-acres of recreation. Every Friday the SEE-LA Echo

Park Farmer’s Market is held at Logan Street and W.

Sunset Blvd., just north of the park.

Echo Park is home to a multitude of trendy bars such

as Bar Bandini, bar-arcades such as Button Mash,

and well-known indie music venues The Echo and

Echoplex, which draw crowds of music through out the

week. Restaurants options range from Mexican vegan

eatery Sage Vegan Bistro, to Taix French, a family-

owned restaurant opened in 1927. Alongside third-

wave coffee shops such as Andante Coffee Roasters,

there is the newly opened Starbucks Reserve, a high-

end, immersive coffee concept.

Echo Park combines the best of urban living, being

both a highly walkable vibrant neighborhood while

also conveniently located to Downtown Los Angeles,

Dodger Stadium, Silver Lake, Los Feliz, and Hollywood.

ECHO PARK


ECHO PARK AMENITIES



A short three-mile drive from Downtown Los Angeles

along iconic Sunset Boulevard, Silver Lake is well

known as a mecca for hipsters, artists, foodies and

boutique shoppers, and is often described as the

Brooklyn of Los Angeles. Residents of Silver Lake are

diverse, with a unique mix of celebrities, creative types,

urban professionals and families.

The neighborhood has a rich history, starting with the

film industry – Walt Disney built his first large studio

here, Tom Mix had his studio nearby, and the numerous

“hidden staircases” provided backdrops for many

films, including Laurel and Hardy’s film, The Music Box.

Over the past 20 years, this central LA neighborhood

has transitioned from urban grit to sophisticated chic,

while retaining an authentic vibe that is diverse and

eclectic. Silver Lake was recently voted the Hippest

Neighborhood in Los Angeles by Forbes magazine.

Adjacent neighborhoods Echo Park, Atwater Village,

East Hollywood and Elysian Heights have experienced

signification redevelopment, partly due to spillover

from Silver Lake.

SILVER LAKE


© 2019 CBRE Limited. Data © TeleAtlas, Google, AerialExpress, DigitalGlobe, Landiscor, USGS, i-cubed. The information contained herein (the “Information”) is intended for informational purposes only and should not be relied upon by recipients hereof. Although the Information is believed to be correct, its accuracy, correctness or completeness cannot be guaranteed and has not been verified by either CBRE Limited or any of its affiliates (CBRE Limited and its affiliates are collectively referred to herein as “CBRE”). CBREneither guarantees, warrants nor assumes any responsibility or liability of any kind with respect to the accuracy, correctness, completeness, or suitability of, or decisions based upon or in connection with, the Information. The recipient of the Information should take such steps as the recipient may deem appropriate with respect to using the Information. The Information may change and any property described herein may be withdrawn from the market at any time without notice or obligation of any kind on the part of CBRE. TheInformation is protected by copyright and shall be fully enforced.

Layout ID:L04 MapId:6567009

Restaurants

Layout ID:P04 MapId:6428734

© 2019 CBRE Limited. Data © TeleAtlas, Google, AerialExpress, DigitalGlobe, Landiscor, USGS, i-cubed. The information contained herein (the “Information”) is intended for informational purposes only and should not be relied upon by recipients hereof. Although the Information is believed to be correct, its accuracy, correctness or completeness cannot be guaranteed and has not beenverified by either CBRE Limited or any of its affiliates (CBRE Limited and its affiliates are collectively referred to herein as “CBRE”). CBRE neither guarantees, warrants nor assumes any responsibility or liability of any kind with respect to the accuracy, correctness, completeness, or suitability of, or decisions based upon or in connection with, the Information. The recipient of the Informationshould take such steps as the recipient may deem appropriate with respect to using the Information. The Information may change and any property described herein may be withdrawn from the market at any time without notice or obligation of any kind on the part of CBRE. The Information is protected by copyright and shall be fully enforced.

Entertainment

Boutiques









#27, #40, #56, #74

ECHO PARK/SILVER LAKE RESTAURANTS & RETAIL

#28, #29, #39,#73, #75, #76



LA METRO MAP

Drive times shown without traffic from Subject Site

Downtown Los Angeles

Hollywood

Beverly Hills/Century City

Glendale

5 MIN

10 MIN

12 MIN

20 MIN

“THE $1.756 BILLION METRO REGIONAL CONNECTOR PROJECT, CONNECTING THE GOLD LINE TO THE 7TH STREET/METRO CENTER STATION AND BYPASSING UNION STATION, IS FORECASTED TO OPEN IN 2022.”


Los

Ange

les

Rive

r

Los Angeles River

PACIFIC OCEAN

CRENSHAW/

PURPLE LINE EXTENSION

REGIONAL CONNECTOR

LAX LINE

LAX

Universal C

ity/Studio City

Hollywood/V

ine

Hollywood/H

ighland

Universal C

ity/Studio City

Civic Ctr/

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Civic Ctr/

Civic Ctr/

GrandGrandGrandGrand

ParkParkParkPark

Westlake/M

acArthur P

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Warner Ctr

Roscoe

Pico/Alis

o

Mariach

i Plaza

Long Beach Bl

Artesia

Del Amo

Civic Ctr/

GrandPark

Allen

LakeSierra

Madre Villa

Arcadia

Monrovia

Duarte/City

of Hope

Irwindale

Azusa Downtown

APU/Citrus Colle

ge

Lincoln/Cypress

Heritage Sq

Southwest Museum

Highland Park

Fillmore

Del Mar

Memorial Park

South Pasadena

Westlake/M

acArthur P

ark

Wilshire

/Vermont

Pershing

Chinatown

Union Station

Chinatown

Square

7th St/Metro CtrPico

LATTC/OrthoInstitute

Jefferson/U

SC

LAX FlyAwayAmtrak & MetrolinkLAX FlyAway

LAX FlyAwayLAX FlyAway

LAX FlyAway

LAX FlyAway

LAX FlyAway

LAX FlyAway

LAX Shuttle G

Amtrak & MetrolinkMetro

link

Sherman Way

Warner Ctr

Roscoe

Nordhoff

Chatsworth

Hollywood/W

estern

Vermont/S

anta MonicaHolly

wood/Western

Hollywood/V

ine

Hollywood/H

ighlandNorth

Hollywood

Balboa

Balboa

Woodley

Sepulveda

Sepulveda

Van Nuys

Van Nuys

Woodman

Valley Colle

ge

Laurel Canyo

n

Canoga

Canoga

De Soto

De Soto

Pierce Colle

ge

Pierce Colle

ge

Tampa

Tampa

Reseda

Reseda

Vermont/B

everly

Vermont/S

anta Monica

Vermont/S

unset

Vermont/S

unset

Amtrak & Metrolink

Soto

Indiana

Maravilla

East LA Civic C

tr

Atlantic

El Monte

Cal State LA

LAC+USC Medica

l Ctr

Pico/Alis

o

Mariach

i Plaza

Wilshire

/

Normandie

Wilshire

/Western

ExpoPark

/USC

Expo/Vermont

Expo/Western

Expo/Crenshaw

Farmdale

Expo/La Brea

La Cienega/Jefferson

Culver C

ity

Palms

Westwood/R

ancho Park

Expo/Sepulveda

Expo/Bundy

26th St/Bergamot

Expo/Sepulveda

Expo/Bundy

26th St/Bergamot

17th St/S

MC

Downtown Santa Monica

Mariposa

El Segundo

Douglas

Redondo Beach

37th St/USC

Rosecrans

Harbor

Carson

Pacific CoastHwy

GatewayTransit Ctr

Long Beach Bl

AvalonVerm

ont/

AthensCrenshaw

Hawthorne/Lennox

Aviation/L

AX

Lakewood Bl

Norwalk

Norwalk

Slauson

Manchester

Harbor F

wy

5th St

1st St

PacificAv

DowntownLong Beach

PacificAv

Washington

Vernon

Slauson

Florence

Firestone

Compton

Artesia

Del Amo

Wardlow

Willow St

Pacific Coast Hwy

Anaheim St

103rd St/

Willowbrook/Rosa Parks

Watts Towers 103rd St/

Willowbrook/Rosa Parks

DowntownLong Beach

Grand/LATTC

San Pedro St

Watts Towers

Union Station

Little To

kyo/

Little To

kyo/

Arts Dist

SAN FERNANDO VALLEY

SAN GABRIEL VALLEY

EASTSIDE

SOUTH BAY

San Pedro

GATEWAY CITIES

DOWNTOWNLA

SOUTH LA

CENTRAL LA

SAN FERNANDO VALLEY

SAN GABRIEL VALLEY

EASTSIDE

SOUTH BAY

San Pedro

GATEWAY CITIES

DOWNTOWNLA

SANTAMONICA

SOUTH LA

CENTRAL LA

WESTSIDE

metro.netMetro Rail & Busway

North Hollywood to Union Station

Metro Rail

Wilshire/Western to Union StationPurple Line

Blue Line

Expo Line

Orange Line

Amtrak

LAX FlyAway

Metrolink

Metro Busway

Regional Rail

Green Line

Gold Line

Downtown LA to Long Beach

Downtown LA to Santa Monica

Redondo Beach to Norwalk

East Los Angeles to Azusa

Silver Line Chatsworth to North Hollywood

San Pedro to El Monte

amtrak.com

metrolinktrains.com

lawa.org/flyaway

LAX Shuttle (free)lawa.org

Street Service in Downtown LAand San Pedro

MAY 2016 Subject to Change

Airport Shuttle

Rail Station

StationTransfer

Busway

Station

UNDERCONSTRUCTION

Busway StreetService

Red Line

17-2

413M

M ©

2017

LAC

MTA

APR 2017 Subject to Change

AFFILIATED BUSINESS DISCLOSURECBRE, Inc. operates within a global family of companies with many subsidiaries and related entities (each an “Affiliate”) engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund management and development. At times different Affiliates, including CBRE Global Investors, Inc. or Trammell Crow Company, may have or represent clients who have competing interests in the same transaction. For example, Affiliates or their clients may have or express an interest in the property described in this Memorandum (the “Property”), and may be the successful bidder for the Property. Your receipt of this Memorandum constitutes your acknowledgement of that possibility and your agreement that neither CBRE, Inc. nor any Affiliate has an obligation to disclose to you such Affiliates’ interest or involvement in the sale or purchase of the Property. In all instances, however, CBRE, Inc. and its Affiliates will act in the best interest of their respective client(s), at arms’ length, not in concert, or in a manner detrimental to any third party. CBRE, Inc. and its Affiliates will conduct their respective businesses in a manner consistent with the law and all fiduciary duties owed to their respective client(s).

CONFIDENTIALITY AGREEMENTYour receipt of this Memorandum constitutes your acknowledgement that (i) it is a confidential Memorandum solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property, (ii) you will hold it in the strictest confidence, (iii) you will not disclose it or its contents to any third party without the prior written authorization of the owner of the Property (“Owner”) or CBRE, Inc., and (iv) you will not use any part of this Memorandum in any manner detrimental to the Owner or CBRE, Inc.

If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return it to CBRE, Inc.

DISCLAIMERThis Memorandum contains select information pertaining to the Property and the Owner, and does not purport to be all-inclusive or contain all or part of the information which prospective investors may require to evaluate a purchase of the Property. The information contained in this Memorandum has been obtained from sources believed to be reliable, but has not been verified for accuracy, completeness, or fitness for any particular purpose. All information is presented “as is” without representation or warranty of any kind. Such information includes estimates based on forward-looking assumptions relating to the general economy, market conditions, competition and other factors which are subject to uncertainty and may not represent the current or future performance of the Property. All references to acreages, square footages, and other measurements are approximations. This Memorandum describes certain documents, including leases and other materials, in summary form. These summaries may not be complete nor accurate descriptions of the full agreements referenced. Additional information and an opportunity to inspect the Property may be made available to qualified prospective purchasers. You are advised to independently verify the accuracy and completeness of all summaries and information contained herein, to consult with independent legal and financial advisors, and carefully investigate the economics of this transaction and Property’s suitability for your needs. ANY RELIANCE ON THE CONTENT OF THIS MEMORANDUM IS SOLELY AT YOUR OWN RISK.

The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions at any time with or without notice to you. All offers, counteroffers, and negotiations shall be non-binding and neither CBRE, Inc. nor the Owner shall have any legal commitment or obligation except as set forth in a fully executed, definitive purchase and sale agreement delivered by the Owner.

© 2019 CBRE, Inc. All Rights Reserved.


HIL

L ST

.

YALE

ST. CH

AVEZ

RAV

INE

PL.

STADIUM WAY


110

110


959 E. Stadium Way Los Angeles, CA

Multifamily Development Site – ±1.44 Acres of LandIntersection of NWC Stadium Way and Chavez Ravine Place

For up to ±264 Residential UnitsR4 Zoning – TOC Tier 3


CHINATOWN

LAURIE LUSTIG-BOWER Executive Vice President+1 310 550 [email protected]. 00979360

KAMRAN PAYDARVice President+1 310 550 [email protected]. 01242590

Date post:	14-Jun-2020
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