Creative Media & Community Trust acquires three multifamily assets

CMCT announced that it is expanding its multifamily portfolio with the planned addition of 696 apartment units across three assets. CMCT intends to acquire an interest in the 75-unit Parkview Apartments located at 1902 Park Avenue in the Echo Park neighborhood of Los Angeles. The transaction is anticipated to close in mid-February. Parkview Apartments is located adjacent to 1910 W. Sunset Blvd., an eight-story office property that was acquired by CMCT in February 2022. In Oakland, CMCT is under contract to acquire Eleven Fifty Clay, at 1150 Clay Street, a 16-story apartment building offering 288 market-rate residences. The acquisition is anticipated to close in late March. On January 31, CMCT closed on the acquisition of Channel House, a 333-unit, eight-story apartment building at 40 Harrison Street.