Grubb Properties, PCCP pay $106M for Hollywood Multifamily Complex
Seller Vanbarton Group paid $148 million for the 280-unit property in 2018
By Nick Trombola July 23, 2025 7:15 pm
reprints
Tinseltown has seen new development and investment activity over the past 12 months, with the latest — and biggest — deal coming by way of Grubb Properties and PCCP.
The firms paid $105.8 million for the Fifty Five Fifty Apartments, a 280-unit building named after its address at 5550 Hollywood Boulevard in Hollywood, Calif., property records show. The price equates to nearly $378,000 per unit.
Walton Street Capital provided Grubb and PCCP with a $72.3 million loan to acquire the property, records show. Cushman & Wakefield represented seller Vanbarton Group in the deal, and arranged the financing.
The value of the transaction is roughly 29 percent less than the $148 million that Vanbarton paid for the development in 2018. The New York-based investment firm had taken Hollywood by storm at the time, buying the former WeWork-anchored 7803 Hollywood Boulevard in 2017, and 6275 West Sunset Boulevard a year later.
Yet the foray didn’t last long — the firm sold 7803 Hollywood in 2024 at a steep discount in the wake of a special servicing transfer. And, although the ownership of 6275 West Sunset is currently unclear, the building no longer appears on Vanbarton’s website.
A spokesperson for Vanbarton did not immediately respond to a request for comment.
“The Fifty Five Fifty Apartments is a high-quality property that addresses the unmet demand for well-designed, well-located, amenity-rich apartments offering exceptional values for renters in the middle of the income spectrum,” Clay Grubb, Grubb Properties CEO, said in a statement.
Hollywood’s commercial real estate sphere has seen a few other notable deals over the past year. Kingsbarn Realty Capital in April, for example, paid $105 million for the eight-story 1601 Vine Street, which houses the headquarters of Kim Kardashian’s fashion brand Skims.
In December, CityView paid $35.5 million for a 112-unit property at 1950 Tamarind Avenue, while pop star John Mayer and producer McG in November paid $45 million for the Jim Henson Company Lot on La Brea Avenue.
Nick Trombola can be reached at ntrombola@commercialobserver.com.
