Waterton Acquires Vida Hollywood Apartments in Hollywood, CA

Mark H. Stern

CHICAGO, IL – Waterton, a U.S. real estate investor and operator, announced it has acquired Vida Hollywood, a 345-unit rental community near an iconic stretch of Hollywood Boulevard in central Los Angeles.

Located on Wilcox Avenue, Vida Hollywood is steps from some of the city’s most popular cultural attractions, including the Hollywood Walk of Fame, a half-block south of the property.

The two-building community, which offers a mix of studio, one- and two-bedroom apartments, also benefits from its proximity to the Metro Red Line and Hollywood Freeway – a half-mile east of the property – providing convenient access to the Los Angeles freeway system and major employment centers, including downtown Los Angeles.

“Demand for rental housing is on the rise in Hollywood thanks in part to a surge in digital entertainment jobs fueled by companies like Viacom and Netflix, which recently announced plans to relocate its Southern California operations to the neighborhood by 2017,” said Mark Stern, senior vice president of acquisitions at Waterton.

“Strong employment, along with the relative affordability of renting, has contributed to historically high occupancies and continued rent growth across virtually every submarket in the Los Angeles metro, making communities like Vida Hollywood especially attractive.”

For a complete copy of the company’s news release, please contact:

Abe Tekippe, atekippe@taylorjohnson.com, (312) 267-4528

Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527