Urban Partners, in joint venture with Kennedy Wilson, acquired the 14-story high-rise tower with 180 Condo Units and 11,403 sf of ground commercial space as a value-add investment opportunity. The Transit Oriented Development is the only Class A high-rise tower in the North Hollywood submarket and San Fernando Valley. Urban Partners and Kennedy Wilson strategically remodeled units and residential amenities and hired a new property management company. Due to market constraints, the team decided to rent the units and were able to stabilize the building within a few months of remodeling. Urban Partners team leased out the entire ground floor retail space and Keller CMS provided tenant improvement build out on the retail space.
NoHo 14 was acquired by UBS in February 2012 for $76 million dollars.