In August 2014, CGI acquired a 50-unit historical apartment building located in the Franklin Village area of Hollywood, CA. The property, originally built in 1926, is currently being redeveloped into luxury apartments, and CGI is working closely with various historical preservation consultants to restore the building to its former glory. The property is currently undergoing a full interior and exterior renovation in keeping with historical preservation guidelines. Overall, CGI’s design team is working to create a unique resident experience deeply rooted in the story of Hollywood.
Based on the current project schedule, construction is anticipated to be complete by December 2017, at which point the property will be operated as a fully furnished apartment building with lease periods ranging from one month to over a year. The property is set to open in first quarter of 2018.
Property marketing website: villacarlottala.com
|Property Address||5959 Franklin Ave, Hollywood, CA|
|Investment Type:||Equity and Debt|
|Asset Type||Historical Apartment Building Renovation|