A company connected to AEW Capital Management purchased a seven-story apartment complex for $159 million, according to property records. The sellers were Cal-Coast Development and Rescore — a real estate investment trust managed by Encore Capital Management. They jointly developed the project — called “The Rise Hollywood,” now “The Ovelo” — at 1331 North Cahuenga Boulevard. AEW Capital Management and Encore Capital Management did not immediately respond to a request for comment; Cal-Coast Development could not be immediately reached. The property is on 2.5 acres in Hollywood’s Entertainment District, and includes 369 apartments and about 2,600 square feet of ground […]
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