Sales Deals of the Week: FPA Multifamily’s Buying Spree Isn’t Over Yet

The top five sales across the country from March 11 to March 15.


This week kicked off with a $186 million deal in Downtown Los Angeles, where FPA Multifamily is apparently continuing its buying spree. The firm snapped up a 34-story luxury residential tower from CIM Group. Otherwise, New York dominated. Not one, but two homeless shelter sites changed hands in Queens and the Bronx. And in Brooklyn, H&R Real Estate Investment Trust acquired a 75 percent stake in a troubled residential development site on the banks of the Gowanus Canal.

Amount Address Buyer Seller Brokers Asset
$186 million 888 South Hope Street; Los Angeles, Calif. FPA Multifamily CIM Group N/A Residential
$79.2 million 138-10 135th Avenue, Queens, N.Y. Crowne Partners GFI Capital Resources Group N/A Hotel
$76.5 million 459 Smith Street, Brooklyn, N.Y. H&R Real Estate Investment Trust All Year Management N/A Residential development site
$64 million 951 Olmstead Avenue, Bronx, N.Y. Urban Resource Institute Heights Advisors N/A Homeless shelter
$34.8 million 291 Livingston Street, Brooklyn, N.Y. Midas Hospitality Hello Living and Aview Equities N/A Hotel

Sales Deals of the Week reflect deals closed or announced from March 11 to March 15. Information on sales can be sent to