{"id":1004125105,"date":"2015-08-11T10:18:05","date_gmt":"2015-08-11T18:18:05","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=357427"},"modified":"2022-03-03T08:10:57","modified_gmt":"2022-03-03T16:10:57","slug":"m-west-holdings-buys-a-royale-with-no-cheese","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/m-west-holdings-buys-a-royale-with-no-cheese\/","title":{"rendered":"M West Holdings Buys a Royale (With No Cheese)"},"content":{"rendered":"<p><em>By Alex Girda, Associate Editor<\/em><\/p>\n<p>The Wilshire Royale Apartments, an iconic multifamily property located in the city\u2019s Westlake District, is under new ownership. A private investor netted $32.5 million from the sale of the asset to <a href=\"https:\/\/mwestholdings.com\/\" rel=\"nofollow\">M West Holdings LLC<\/a>. The transaction was arranged by Marcus &amp; Millichap\u2019s <a href=\"https:\/\/www.marcusmillichap.com\/properties\/investortypes\/institutionalinvestors\" rel=\"nofollow\">Institutional Property Advisors division<\/a>. The effort was spearheaded by IPA representatives Greg Harris, Kevin Green and Joseph Grabiec.<\/p>\n<div id=\"attachment_357435\" class=\"wp-caption alignright\" style=\"width: 310px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/08\/Wilshire-Royale-Apartments.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-357435\" title=\"Wilshire Royale Apartments\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/08\/Wilshire-Royale-Apartments.jpg\" alt=\"Wilshire Royale Apartments \" width=\"300\" height=\"199\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">Wilshire Royale Apartments<\/p>\n<\/div>\n<p>Located at 2619 Wilshire Boulevard, the 1927-built property was originally operated as the Arcady Apartment Hotel. The 12-story building is located in the Koreatown area, an expanding hotbed for new development that is changing the makeup of the city\u2019s core. A prime example of L.A.\u2019s Art Deco architectural phase, the 193-unit Wilshire Royale also offers a ground floor retail component totaling 9,269 square feet of space.<\/p>\n<p>According to one of the IPA representatives involved in the sale process, the new owner is looking to \u201ccapitalize on the historic nature of the property while renovating it to today\u2019s luxury standards in a market where there is demand for high-end renovated units.\u201d The apartment building is located within walking distance to a number of transit lines such as the 10, 101 and 110 freeways, as well as stops on the Metro Red Line and Purple Line. President of M West Holdings Karl Slovin noted that the company will make moves to \u201cattract the growing millennial renter population\u201d.<\/p>\n<p>Image courtesy of <em>wilshireroyaleapts.com<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Wilshire Royale Apartments, an iconic multifamily property located in the city&rsquo;s Westlake District, is under new ownership.<\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1594,21742],"tags":[],"class_list":["post-1004125105","post","type-post","status-publish","format-standard","hentry","category-los-angeles","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>M West Holdings Buys a Royale (With No Cheese) - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/m-west-holdings-buys-a-royale-with-no-cheese\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"M West Holdings Buys a Royale (With No Cheese)\" \/>\n<meta property=\"og:description\" content=\"The Wilshire Royale Apartments, an iconic multifamily property located in the city&rsquo;s Westlake District, is under new ownership.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/m-west-holdings-buys-a-royale-with-no-cheese\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-08-11T18:18:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-03T16:10:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/08\/Wilshire-Royale-Apartments.jpg\" \/>\n<meta name=\"author\" content=\"Alex Girda\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/m-west-holdings-buys-a-royale-with-no-cheese\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/m-west-holdings-buys-a-royale-with-no-cheese\\\/\"},\"author\":{\"name\":\"Alex Girda\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/540f0253de89dedaae7684239611b81c\"},\"headline\":\"M West Holdings Buys a Royale (With No Cheese)\",\"datePublished\":\"2015-08-11T18:18:05+00:00\",\"dateModified\":\"2022-03-03T16:10:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/m-west-holdings-buys-a-royale-with-no-cheese\\\/\"},\"wordCount\":248,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/m-west-holdings-buys-a-royale-with-no-cheese\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/08\\\/Wilshire-Royale-Apartments.jpg\",\"articleSection\":[\"Los Angeles\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/m-west-holdings-buys-a-royale-with-no-cheese\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/m-west-holdings-buys-a-royale-with-no-cheese\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/m-west-holdings-buys-a-royale-with-no-cheese\\\/\",\"name\":\"M West Holdings Buys a Royale (With No Cheese) - 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