FPA Multifamily Acquires Ground Lease for Apartment Building at 6201 Hollywood Blvd. from DLJ Real Estate Capital Partners

FPA Multifamily acquired the ground lease for the 535-unit apartment building at 6201 Hollywood Blvd. from DLJ Real Estate Capital Partners in a deal that valued the property at $191 million. The apartment building, known as Arrive Hollywood, was built in 2014 adjacent to the Hollywood and Vine Metro stop and includes more than a dozen ground-floor retailers, including Funko. Other tenants include Barry’s and Shake Shack.

The apartment building includes mostly studio and one-bedroom units. The one-bedroom units have an average size of about 1,000 square feet with asking rental rates of $3,000 per month.

FPA has been an active buyer in Southern California. It purchased the 40-unit apartment building known as Arrive Wakaba at 232 E. Second St. in Los Angeles for $86.1 million in August.