Kilroy Realty has quietly cashed out of two of Hollywood’s most visible apartment towers, closing a roughly $202 million deal in April that slices its Southern California residential footprint and continues a broader portfolio reshuffle.
Deal details from Kilroy’s filing
In its April 27 earnings release filed with the SEC, Kilroy reported that the sale closed in April and produced $202.0 million in gross sales proceeds. The company identified the properties as the 200-unit Columbia Square Living at 1550 North El Centro Avenue and the 193-unit Jardine at 6390 De Longpre Avenue, and it classified both towers as held for sale during the quarter, according to the SEC.
Buyer remains undisclosed
The buyer did not get a name check in Kilroy’s statement and still has not been publicly identified, as reported by The Real Deal. Both towers sit within Kilroy’s Columbia Square and On Vine mixed-use campuses, with On Vine already landing creative office tenants that include Netflix.
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