Grubb Properties is bringing its essential housing brand to Los Angeles. The vertically integrated commercial real estate firm will develop five Link Apartments communities with 672 units of essential housing. Los Angeles is Grubb’s second region in California, following its entry in the Oakland market.
“Los Angeles is one of the most housing-strapped metropolitan areas in the country,” said Frank Tetel, managing director of acquisitions. “Essential housing, as implemented in our Link Apartments brand, is specifically designed to address this shortfall, bringing accessible rental housing to some of the most vibrant neighborhoods in the city. We’re looking forward to bringing these projects to life and to creating future opportunities in Los Angeles.”
According to Grubb Properties, the Link Apartments brand aims to fill the gap between subsidized and luxury apartments, serving households earning between 60% and 140% of the area median income. The company has 19 communities with nearly 5,000 units under the brand stabilized or under construction. Another 16 communities are in the pipeline.
The five Los Angeles communities, which are all located in Opportunity Zones and owned by Grubb’s Link Apartments Opportunity Zone REIT, include:
- Link Apartments Karella in Koreatown with 77 units;
- Link Apartments Kora in Koreatown with 256 units;
- Link Apartments NoHo in North Hollywood with 128 units;
- Link Apartments Solana in East Hollywood with 70 units; and
- Link Apartments Vine in Hollywood with 151 units.
Fred Shaffer of Saiko Investment, Matthew Stroyman of Blackridge Ventures, and Randall Reel of Allied Urban serve as local development partners.