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West 27th Place Sold To New York Investors

The off-campus housing structure changes ownership shortly after opening.

Popular USC student housing complex West 27th Place Apartments was purchased by Kayne Anderson Real Estate Advisors (KAREA), a New York-based private equity firm that invests primarily in off-campus university housing.

West 27th Place, which describes itself as “the best off-campus student housing,” opened just two months ago with a ceremony on August 18. The seven-story luxury apartment complex at 27th and Figueroa consists of 161 units, 392 beds, a 24-hour fitness center, billiards, parking structures and a resort-style salt-water pool complete with a sun deck and cabanas.

“We are extremely excited about our acquisition of this exceptional property,” said Al Rabil, President and CEO of KAREA. 

KAREA’s purchase of West 27th Place on October 5 brings the company’s student housing portfolio to a total of 5,371 units nationwide. 

The sale was coordinated as a joint venture of Los Angeles developers CityView and Symphony Development, according to real estate brokerage Institutional Property Advisors. While final figures were not disclosed, downtown property experts estimate West 27th Place sold for about $60 million.

The change in ownership is not expected to interfere with student amenities or development of groundfloor businesses. 

COMMENTS

[...] West 27th Place Sold To New York InvestorsAnnenberg TV NewsPopular USC student housing complex West 27th Place Apartments was purchased by Kayne Anderson Real Estate Advisors (KAREA), a New York-based private equity firm that invests primarily in off-campus university housing. …Kayne Anderson Real Estate Advisors Exceeds Target on Fund Close at $575MMPR Newswire (press release) [...]

[...] West 27th Place Sold To New York InvestorsAnnenberg TV NewsPopular USC student housing complex West 27th Place Apartments was purchased by Kayne Anderson Real Estate Advisors (KAREA), a New York-based private equity firm that invests primarily in off-campus university housing. …Kayne Anderson Real Estate Advisors Exceeds Target on Fund Close at $575MMPR Newswire (press release) [...]

[...] West 27th Place Sold To New York InvestorsAnnenberg TV NewsPopular USC student housing complex West 27th Place Apartments was purchased by Kayne Anderson Real Estate Advisors (KAREA), a New York-based private equity firm that invests primarily in off-campus university housing. …Kayne Anderson Real Estate Advisors Exceeds Target on Fund Close at $575MMPR Newswire (press release) [...]

[...] West 27th Place Sold To New York InvestorsAnnenberg TV NewsPopular USC student housing complex West 27th Place Apartments was purchased by Kayne Anderson Real Estate Advisors (KAREA), a New York-based private equity firm that invests primarily in off-campus university housing. …Kayne Anderson Real Estate Advisors Exceeds Target on Fund Close at $575MMPR Newswire (press release) [...]

[...] West 27th Place Sold To New York InvestorsAnnenberg TV NewsPopular USC student housing complex West 27th Place Apartments was purchased by Kayne Anderson Real Estate Advisors (KAREA), a New York-based private equity firm that invests primarily in off-campus university housing. …Kayne Anderson Real Estate Advisors Exceeds Target on Fund Close at $575MMPR Newswire (press release) [...]

[...] West 27th Place Sold To New York InvestorsAnnenberg TV NewsPopular USC student housing complex West 27th Place Apartments was purchased by Kayne Anderson Real Estate Advisors (KAREA), a New York-based private equity firm that invests primarily in off-campus university housing. …Kayne Anderson Real Estate Advisors Exceeds Target on Fund Close at $575MMPR Newswire (press release) [...]

[...] West 27th Place Sold To New York InvestorsAnnenberg TV NewsPopular USC student housing complex West 27th Place Apartments was purchased by Kayne Anderson Real Estate Advisors (KAREA), a New York-based private equity firm that invests primarily in off-campus university housing. …Kayne Anderson Real Estate Advisors Exceeds Target on Fund Close at $575MMPR Newswire (press release) [...]

[...] West 27th Place Sold To New York InvestorsAnnenberg TV NewsPopular USC student housing complex West 27th Place Apartments was purchased by Kayne Anderson Real Estate Advisors (KAREA), a New York-based private equity firm that invests primarily in off-campus university housing. …Kayne Anderson Real Estate Advisors Exceeds Target on Fund Close at $575MMPR Newswire (press release) [...]

[...] West 27th Place Sold To New York InvestorsAnnenberg TV NewsPopular USC student housing complex West 27th Place Apartments was purchased by Kayne Anderson Real Estate Advisors (KAREA), a New York-based private equity firm that invests primarily in off-campus university housing. …Kayne Anderson Real Estate Advisors Exceeds Target on Fund Close at $575MMPR Newswire (press release) [...]

[...] West 27th Place Sold To New York InvestorsAnnenberg TV NewsPopular USC student housing complex West 27th Place Apartments was purchased by Kayne Anderson Real Estate Advisors (KAREA), a New York-based private equity firm that invests primarily in off-campus university housing. …Kayne Anderson Real Estate Advisors Exceeds Target on Fund Close at $575MMPR Newswire (press release) [...]

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