One of Wall Street's biggest landlords just took a $30 million haircut in Los Angeles. Blackstone's apartment arm, LivCor, sold Violet on Virgil, a 302-unit complex at 160 South Virgil Avenue in Rampart Village near Koreatown, for $60 million, according to The Real Deal and Commercial Real Estate Direct. LivCor paid $90 million for the property in 2018. That's a 33% drop in eight years. The buyer is Post Investment Group, a Beverly Hills firm. The Real Deal credited Multi-Housing…
MarketLos Angeles
Blackstone Paid $90 Million in 2018. This LA Apartment Complex Just Sold for $60 Million.
LivCor sold LA’s Violet on Virgil for $60 million after paying $90 million in 2018. What the discount and acquisition financing mean for apartment owners.
