MWest Holdings Announces Sale of Historic Hollywood Tower Apartments

LOS ANGELES, July 19, 2021 /PRNewswire/ -- MWest Holdings, a Los Angeles-based real estate and investment firm with over 2.5 million square feet of residential and commercial property across the U.S., today announced the sale of Hollywood Tower Apartments, a 52-unit multifamily asset listed on the National Register of Historic Places in Los Angeles, CA.

The iconic Hollywood Tower, which MWest acquired in 2015, is a vintage 1929 property with a fascinating history as a desired location for Hollywood stars. Former residents include Humphrey Bogart, William Powell, Errol Flynn, and Marilyn Monroe. MWest preserved the building's old Hollywood ambiance while completing tasteful upgrades to the amenity spaces and unit interiors by merging vintage details with fine contemporary finishes. Three rooftop decks were fully refreshed, including a premium lighting package, modern seating upgrades, and landscaping design by Rolling Greens Nursery. Unit interiors were equipped with modern appliances, Caesarstone countertops, Euro-style cabinetry, marble bath vanities, and more. The building's large neon sign was restored and serves as a prominent Hollywood landmark off the 101 freeway.

Hollywood Tower is located near the center of Hollywood and within walking distance of Franklin Village, public transit, superb dining, and the most extensive nightlife scene in Los Angeles.

MWest Holdings is a long-time owner and operator of residential and commercial real estate throughout the greater Los Angeles region.  The company has deep experience in owning, transforming, and operating multifamily properties throughout the region including in downtown Los Angeles, Hollywood, Pasadena, and West Los Angeles, bringing much-needed quality housing to these communities.

About MWest Holdings. MWest Holdings is a vertically integrated real estate investment and property management company with over 2.5 million square feet of residential and commercial property across the United States. Founded in 1991, MWest is known for creating innovative development solutions that instill a sense of neighborhood and integrity and create a lasting, tangible value. The company specializes in enhancing classic, core-plus and value-add properties, as well identifying opportunistic strategies that showcase fine or historic architecture and invigorate the culture and aesthetics of communities they serve. As a highly successful and stable owner and operator of real estate, MWest has continually employed sound business practices, low leverage and stringent underwriting guidelines for each investment opportunity. The company's success is anchored in a philosophy that imagination is the only limiting factor to growth.

MEDIA CONTACT: Kyle Kokkales?818.501.5600 ? [email protected]

SOURCE MWest Holdings