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Grubb Properties Adds 672 Units across Five Properties in Opportunity Zones

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Grubb Properties, a commercial real estate firm and opportunity zone fund sponsor, announced five new Link Apartments communities in Los Angeles, California.

Grubb Properties, a commercial real estate firm and opportunity zone fund sponsor, announced the commencement of development on five new Link Apartments communities in opportunity zones in Los Angeles, California. Together, the five locations will provide more than 650 units of essential housing to the Southern California metropolis.

“Los Angeles is one of the most housing-strapped metropolitan areas in the country,” said Frank Tetel, managing director, acquisitions at Grubb Properties. “Essential housing, as implemented in our Link Apartments brand, is specifically designed to address this shortfall, bringing accessible rental housing to some of the most vibrant neighborhoods in the city. We’re looking forward to bringing these projects to life, and to creating future opportunities in Los Angeles.”

There are currently 19 Link Apartments communities stabilized or under construction across the country, totaling 4,935 multifamily units, with 16 additional communities in the pipeline.

The new five properties are:

  • Link Apartments Kora, 1000 S Vermont Avenue. Located on a rare full-block assemblage in Koreatown, Link Apartments Kora will include 246 units. Target has signed a lease for the approximately 50,000 square foot retail space at the southeast corner of W Olympic Blvd and S Vermont Ave.
  • Link Apartments Korella, 950 S Berendo Street. Link Apartments Korella will include 77 units.
  • Link Apartments Solana, 1353 Western Avenue. Located in East Hollywood near Target, Starbucks, and numerous co-working locations, Link Apartments Solana will contain 70 units of essential housing.
  • Link Apartments NoHo, 5240 Lankershim Boulevard. Link Apartments NoHo comprises 128 units and 5,000 square feet of retail. The North Hollywood location is walkable to the “NoHo District” redevelopment at the North Hollywood Red Line Metro Station and adjacent to Kaiser Permanente.
  • Link Apartments Vine, 1200 Vine Street. Located just two blocks from Santa Monica Boulevard, Link Apartments Vine will include 151 units of essential housing.

The five communities are located in opportunity zones and are owned by Grubb’s Link Apartments Opportunity Zone REIT, which launched Reg. D 506(c) private placement offering earlier this year that seeks to raise up to $25 million from accredited investors.

Grubb Properties, founded in 1963, is a real estate fund manager focused on the essential housing space through its Link Apartments brand.

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