Winstar Properties has expanded its Hollywood apartment portfolio, acquiring multiple properties at steep discounts from prior sales. The Los Angeles-based firm bought four parcels in Hollywood for a combined total of $27.8 million, marking a sharp drop from the $46 million price they sold for in 2019, L.A. Business First reported. Winstar made the acquisitions through the entity Hollywood Gershwin LLC. The properties include The Gershwin at 5533 Hollywood Boulevard, two adjacent properties at 1714 and 1722 Garfield Place and a parking lot at 1733 North Western Avenue. Altogether, the developments comprise nearly 200 units. The Gershwin sold for $11.7 […]
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