Luxury Apartments Now Available in Los Angeles via CMCT
CMCT Completes Transformation of Office Space into Luxury Residences
CMCT (NASDAQ: CMCT) has recently announced the successful conversion of the top two levels of a three-story, approximately 143,000-square-foot office building into 68 luxury apartment residences. This project takes place in a vibrant area of Los Angeles, enhancing the Brookside neighborhood within the Park Mile Specific Plan.
Luxury Living Above Dynamic Office Space
The conversion preserves around 30,000 square feet of ground-floor office space that is fully leased as of September 2024. This innovative approach creates a stacked mixed-use environment, combining both residential and office spaces. While the office will maintain the 4750 Wilshire Blvd. address, the new apartments can be found at 701 S. Hudson Ave.
Spacious and Contemporary Apartments
The residences at 701 Hudson feature a range of studio, one-, and two-bedroom floor plans, many of which include a den suitable for use as a home office. The apartments boast impressive 10-foot ceilings and expansive windows, flowing with natural light and offering a warm, inviting atmosphere. The contemporary design incorporates modern fixtures, including stone countertops, wood flooring, and sleek cabinetry, alongside convenient in-unit washers and dryers.
Exceptional On-Site Amenities for Residents
Future residents can take advantage of an array of top-notch amenities designed for comfort and convenience. Among these are a resort-style pool, a beautifully landscaped courtyard equipped with outdoor picnic areas, and a resident lounge that features a movie room and game tables. Additionally, there are facilities for children, a fitness center, yoga rooms, and a co-working space providing both collaborative worktables and private offices.
Prime Location with Easy Access
The apartments are strategically located just one mile from the La Brea station of the future D Line subway, enhancing connectivity between downtown and the Westside. This central setting allows residents easy access to major business districts such as Downtown Los Angeles, Century City, Beverly Hills, and Hollywood. Moreover, the area is in proximity to popular retail and dining spots including Koreatown, Larchmont Village, the La Brea corridor, and The Grove, making it an ideal living destination.
CMCT’s Commitment to Quality Residential Developments
This conversion aligns with CMCT’s dedication to investing in high-quality apartments and creative office spaces in markets with significant barriers to entry. CMCT adopts a property-level equity investment strategy alongside co-investors, demonstrating its commitment to long-term value in real estate. The key co-investors include Kanden Realty & Development, Taisei Corporation, and a third institutional partner involved in this venture.
About CMCT
Creative Media & Community Trust Corporation (CMCT) operates as a real estate investment trust, focusing on the ownership, operation, and development of premier multifamily and creative office assets across the United States. The company is recognized as a leader in the creative office sector, promoting properties that accommodate rapidly evolving industries such as technology, media, and entertainment. Furthermore, CMCT benefits from the guidance of CIM Group, L.P., which provides extensive expertise in asset management, development, and operations.
Frequently Asked Questions
What is the location of the newly converted apartments?
The luxury apartments are located at 701 S. Hudson Ave, with the office space retaining the address 4750 Wilshire Blvd.
What types of floor plans are available in the apartments?
The apartments offer a variety of studio, one-bedroom, and two-bedroom layouts. Some units even feature a den for additional flexibility.
What amenities can residents expect?
Residents will enjoy amenities including a resort-style pool, fitness center, kids' playroom, and a co-working space, among others.
How does CMCT support its investment strategies?
CMCT utilizes a property-level equity investment strategy, partnering with co-investors to enhance the value of its developments.
Who is behind the operation of CMCT?
CMCT is managed by affiliates of CIM Group, L.P., which has extensive experience in asset ownership and operations across various real estate sectors.
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